American Express CEO Steve Squeri, On OCC's Anti-Money Laundering Fine, Says Deficiency Cited In The Consent Order Should Not Have Occurred; We Are Accountable For Addressing Deficiency Thoroughly; Orders Do Not Impose An Asset Cap On The Co.; To Cut 5% Of Total Jobs
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Why It Matters
American Express got fined for not catching money laundering properly. The CEO said they messed up and will fix it, and they're cutting some jobs to do better.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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