Recent events
Recent events tied to this brand in public sources.
Back to profile3 entries
2022
USAA Federal Savings Bank fined $140 million over AML compliance failures
FinCEN and the OCC imposed penalties on USAA Federal Savings Bank under separate consent orders over what the agencies described as its willful failure to implement and maintain a Bank Secrecy Act/anti-money laundering compliance program. The article states the total amount payable as $140 million; it also reports a $60 million OCC penalty and a $140 million FinCEN penalty, with FinCEN crediting the OCC fine based on similar findings.
2022
USAA Bank reaches AML settlement with FinCEN
FinCEN announced a settlement agreement with USAA Bank for $140 million in civil fines over Bank Secrecy Act violations; the article says the agency characterized the violations as willful.
2020
OCC fines USAA Federal Savings Bank $85 million
The Office of the Comptroller of the Currency imposed an $85 million fine on USAA Federal Savings Bank after finding failures in its compliance risk management and information technology risk programs, including violations of the Military Lending Act and the Servicemembers Civil Relief Act.