Tag: Federal Savings Bank


OCC and FinCEN Issue $200 Million in Penalties for BSA-AML Violations

March 29, 2022

Via: JD Supra

On March 17, the OCC and FinCEN issued civil monetary penalties against a federal savings bank for “willfully” failing to meet minimum compliance program requirements and shoddy suspicious transaction reporting. The consent orders read like a veritable “how not to” […]


USAA to pay $140M in penalties over AML shortcomings

March 18, 2022

Via: Banking Dive

Thursday’s penalties break down to $80 million from FinCEN and $60 million from the OCC — each of which filed consent orders against USAA. The OCC ordered the bank to appoint a compliance committee within 15 days and to develop […]

News, Regulations, Retail Banking

USAA Federal Savings Bank nabs new risk head from Citigroup

February 10, 2021

Via: FinTech Futures

The San Antonio-based firm has also promoted from within. It’s moved former head of retail banking, Paul Vincent, to a new role as head of its banking unit. “USAA is adding a highly talented risk professional with two decades of […]