What did USAA get in trouble for?

What did USAA get in trouble for?

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced that it has assessed a $140 million civil money penalty against USAA Federal Savings Bank (USAA FSB) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. Mar 17, 2022

Why is USAA so good?

USAA has been an innovative bank for years. They offer many premium services as standard for all accounts. These include free checking and savings accounts with no minimum balance fees, free checks, free rewards debit card, free overdraft protection, free web bill pay, and much more. Jan 1, 2021

Who owns USAA?

the Charles Schwab CorporationOn July 26, 2019, the Charles Schwab Corporation announced it would acquire USAA’s investment and brokerage accounts for $1.8 billion.