USAA Bank Fined $85 Million by Federal Regulators for ‘Violations of Law’
USAA Federal Savings Bank must pay the U.S. government an $85 million fine after regulators found failures in the company’s compliance risk management and information technology risk programs.
The decision, announced October 14, was made by the Office of the Comptroller of Currency (OCC), a U.S. Treasury bureau tasked by law with overseeing banks.
USAA Federal Savings Bank is part of USAA, which has about 13 million military and veteran-affiliated members.
Comments are closed.