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Amex's $350m AML bill, Deutsche Bank's app-first wealth mandate and Citi wiring up stablecoins
A $350m AML penalty for Amex, Deutsche Bank's app-first wealth mandate, and Citi wiring up Coinbase's stablecoin rails.
22 October 20261 min readUpdated 23 October 2026
One expensive lesson in monitoring, one sensible piece of digitisation from a German bank, and a big bank getting comfortable with stablecoins.
- Amex pays $350m over AML failures: the OCC fined American Express National Bank and issued a cease-and-desist order. It found about $13bn of suspected laundering went through between 2014 and 2025, and the Fed issued its own order against the parent. Eleven years is a long time for monitoring not to notice (Fintech Brainfood).
- Deutsche Bank puts wealth management in the app: PrivatMandat Xperience can be opened and tracked fully online and in the Deutsche Bank app, while human portfolio managers keep making the investment calls. It's not a robo-adviser, and that's the point: the channel is digital, the decisions aren't (IT Finanzmagazin).
- Citi plugs in Coinbase: a wider partnership links Coinbase's stablecoin rails to Citi's merchant-acquiring and institutional banking platforms. At the other end of the market, Moov gives Coinbase a channel to more than 1,000 community banks and credit unions (Tearsheet).
Sources: Fintech Brainfood · IT Finanzmagazin · Tearsheet
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