"The Office of the Comptroller of the Currency (OCC) today announced a cease-and-desist order and a $350 million civil money penalty against American Express National Bank, Sandy, Utah (bank), for deficiencies in the bank’s Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance program. Deficiencies in the Bank’s BSA/AML program involved inadequate resources, including staff without sufficient expertise, systemic internal control gaps, weak independent testing, and weak BSA/AML training for employees and directors."