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USAA FSB pays $382,500 flood insurance penalty

San Antonio, TX
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The OCC has issued a Consent Order to USAA Federal Savings Bank ("USAA") directing USAA to pay a civil money penalty of $382,500 for a pattern or practice of violations of the Flood Disaster Protection Act and its implementing regulations, specifically 12 CFR §  22.7(a) [Force placement of flood insurance].

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