Certified Anti-Money Laundering Specialist Certification (CAMS) Practice Exam

The correct answer, American Express, is classified as a Credit Card Association because it operates as both a card issuer and a payment network. Credit Card Associations are organizations that facilitate transactions between merchants and cardholders through their own network, providing the infrastructure for credit card payments.

American Express is well-known for its charge and credit card products, and it directly manages the billing and payment process. Unlike typical banks which primarily issue credit cards, Credit Card Associations like American Express also handle transaction processing and offer additional services such as rewards programs, fraud protection, and customer support, making them integral players in the credit card industry.

Other entities listed, such as Wells Fargo, Bank of America, and Goldman Sachs, primarily function as banks or financial institutions that may issue credit cards but do not have a proprietary transaction processing network like American Express. They rely on associations like Visa or MasterCard for processing credit card transactions, thereby distinguishing them from organizations classified as Credit Card Associations.