Posted on 04/21/2022 3:00:43 PM PDT by wardamneagle
Couple of links at the URL.
Why? I didn’t search all over the place but the only thing I saw on the reference page was cease and desist orders.
USAA is a/the top rated insurance company. You have to have some relationship to a member of the US military to purchase it. Is this just another attack on patriotic Americans?
Nothing at the link claims that you are the author.
Yet you have listed yourself as the author.
How does that happen?
From the limks, that’s the banking side of USAA, not the insurance side.
Legalese writing is an abomination designed to obscure rather than inform.
FinCEN Announces $140 Million Civil Money Penalty against USAA Federal Savings Bank for Violations of the Bank Secrecy Act
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.
Specifically, USAA FSB admitted that it willfully failed to implement and maintain an anti‑money laundering (AML) program that met the minimum requirements of the BSA from at least January 2016 through April 2021. USAA FSB also admitted that it willfully failed to accurately and timely report thousands of suspicious transactions to FinCEN involving suspicious financial activity by its customers, including customers using personal accounts for apparent criminal activity.
Jeez, that’s my bank! SIXTY MILLION DOLLARS! WTF!
Is this targeting a bank that doesn’t adhere to something the GLOBALISTS ARE DEMANDING? A SHAKEDOWN?
Whenever you click on the order number, it downloads a pdf to your computer containing the text of the order.
A 60 million dollar fine to the fed, and those tightwads want to knock a percentage point off my cash back card. I’ve been slowly moving my money out of USAA for awhile now. Maybe I need to step up the process.
Would you have been happier with: The Office of the Comptroller of the Currency?
USAA apparently isn’t in compliance with the Bank Secrecy Act/Anti Money Laundering compliance program of 2020.
So something ugly is being done to them. You’ll have to wade through the legal jargon in those two orders to figure out what it is.
Penalty for not implementing a legally required anti money laundering program…
This is a huge no no, they are lucky the fed didn’t just shut them completely down IMHO..
Yeah, mine too. I guess we will not get our distribution next year😟
Yes.
Instead of some jerkmate falsely claiming authorship?
Hell yes.
One is a lie and one is not.
Have you a preference?
In case you wondered where your insurance premiums are going:
My guess is that it is a shake down.
Show me the man and I’ll find you the crime.
Even an accusation is enough to destroy someone.
The distribution is from our insurance and not the FSB, which is separate, so I do not think it will affect our annual distribution. Then, again...who knows?
This is interesting, but it’s a lot of smoke on improving procedures to catch money laundering. But did they find a real crime such as money laundering for Mexican cartels?
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