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[7] [8] USAA Federal Savings Bank, which provides banking services, is headquartered on a 575-acre (233 ha) campus in Phoenix, Arizona as of April 2024. [ 9 ] USAA has since expanded to offer banking and insurance services to past and present members of the Armed Forces, officers and enlisted, and their families.
In 2023, customers filed 417 complaints to the Consumer Financial Protection Bureau over the bank's checking and savings accounts, a dramatic increase from 150 in 2018.
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On July 1, 2020, the company acquired Wasmer, Schroeder & Company, an independent investment manager of fixed income in separately managed accounts with $10.7 billion in assets under management. [30] On May 26, 2020, the company acquired USAA's investment management accounts for $1.8 billion in cash. [31] [32]
USAA, the financial services company serving military personnel and their families, will pay $62.4 million to resolve a lawsuit claiming it overcharged service members and veterans on interest ...
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In April, a federal grand jury in Louisiana indicted 21 people involved with stealing nearly $7 million from USAA customers — particularly the accounts of older individuals with high bank balances.
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