USAA Federal Savings Bank (FSB) must pay $140 million as part of two separate consent orders reached with the Financial Crimes Enforcement Network (FinCEN) and Office of the Comptroller of the Currency (OCC) for the bank’s “willful” failure to implement and maintain a Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program.

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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,...