San Antonio's USAA to pay $64.2 million to settle claim it overcharged service members
San Antonio-based financial services giant USAA will pay out $64.2 million to settle a class-action lawsuit accusing its bank of overcharging service members and veterans on fees and rates in addition to enrolling them in products they didn't want, the Express-News reports. The class involved in the suit numbers about 210,000 people, and the settlement, reached after roughly a year of mediation, amounts to a little more than $200 each, according to the daily, which cites papers filed Friday in North Carolina federal court. Each of the suit's five named plaintiffs would collect $20,000.
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