Polo Rocha is a Washington D.C.-based reporter who covers consumer finance and national banking trends. He previously covered the Federal Reserve at S&P Global Market Intelligence and state politics at WisPolitics.com. He graduated from the University of Wisconsin-Madison and has a master's in finance degree from Johns Hopkins University.
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The San Antonio-based insurer and bank has named Juan Andrade as its next CEO. The company's bank has suffered a series of regulatory penalties.
January 9 -
For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USAA from adding new products or loosening its membership criteria without evaluating the risks of getting bigger.
December 18 -
Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
November 21 -
The military-focused company, which operates an insurer and a $111.7 billion-asset bank, has tangled with regulators during Wayne Peacock's tenure. He will retire in the first half of 2025.
August 19 -
Synchrony Financial bought Pets Best ahead of a pandemic-driven surge in the pet insurance business. Now it's selling the subsidiary for a $750 million after-tax gain.
November 29 -
Regulators are bringing enforcement cases while also proposing wider changes that would alter the industry for years to come. The scrutiny covers pricing discrimination, products that make car purchases more expensive and lenders' handling of repossessions.
February 6 -
The layoffs appear to be focused on the company's bank subsidiary, according to the San Antonio Express-News. USAA declined to provide any details on the job cuts.
August 22
