Federal regulators hit USAA Savings Bank with yet another order to fix 'unsafe practices'

Federal regulators have slapped San Antonio-based USAA's banking unit with an order demanding that it fix "unsafe and unsound" policies, marking the government's third attempt since 2019 to force such changes. The U.S. Office of the Comptroller of the Currency (OCC) said Wednesday that it's ordered USAA Federal Savings Bank to fix longstanding regulatory shortfalls related to its management, earnings, information technology, consumer compliance, internal audits and reporting of suspicious activity. OCC officials said some of the bank's violations have been on the agency's radar since at least 2019.