Regulators said the bank failed to report thousands of suspicious financial transactions by customers. SanAntonio SATX SanAntonioTX usaa Veterans Military Banking Finance
U.S. banking regulators have slapped San Antonio's USAA Federal Savings Bank with a $140 million fine, alleging it failed to adequately monitor for potential money-laundering activity., the federal Financial Crimes Enforcement Network said the bank failed to report thousands of suspicious financial transactions by customers, including some"using personal accounts for apparent criminal activity.
Of the total penalty, $60 million represents a fine imposed by the Office of the Comptroller of the Currency, which that agency assessed for"related violations," according to federal officials.
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