Senior executives at USAA ignored warnings from compliance staff and consultants for years regarding multiple violations of U.S. federal banking laws and “intentionally” hid from regulators the scope of the company’s illegal practices, a former USAA director of compliance turned whistleblower told Compliance Week.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...