Because it is going to cost USAA alot of money-But more importantly, it is going to cost USAA a whole lot of bad publicity. USAA was probably hoping they could sweep it under the table.
@@johnmartin9823Just like the government or other large companies which are all tied together. Crony capitalism at its finest. Their bottom line matters, not yours.
I jumped on here to make the same comment. Glad you made it first. FYI - this is not about the fraud. Yeah, it happens. It's about how the corporation with whom you have placed your trust chooses to turn a blind eye. Been happening with USAA for years - I left them more than 10 years ago over the same issue. Hopefully more stories like this will let the world know.
I am really concerned about the current bank crisis , these are all the signs of yet another 2008 market crash , so my question is do I still save in the United States dollar or is this a good time to buy gold or some other assets ? USAA today who knows who tomorrow
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
Given the current state of the market and the potential risks to the economy, I would advise that it's wise to hold onto some gold. Instead of investing blindly right now, it may be better to do your research or seek guidance from a financial manager to make informed decisions.
The decision on when to pick an Adviser is a very personal one. I take guidance from Sharon Ann Meny to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
oh don't worry, it is still political because of who USAA supports politically. They would never go after a big bank because corporate media banks with them.
@@rotaryenginepetelmao USAA is a big bank 😂. And yes there are plenty of new articles on other banks google Wells Fargo. Fyi Big banks support GOP because they favor less financial regulations.
They basically hired criminals to staff their call centers to save a buck and refused to take accountability for it. I joined as an E-2 and kept accounts there for over 20 years. They were really good throughout my career but seemed to go downhill after I retired. I haven’t dealt with them in years and I’m glad they are finally getting called out. The customer service is worst than the cable company. This is good reporting.
Their customer service is horrible. Most of them cannot speak English and may be from another country. It also takes them hours to answer the customer service line horrible
I had the same experience, after I retired they no longer offered the pre-approved auto loans and I had trouble getting a mortgage with them. Many people told me USAA don’t care about you after retirement.
I've been with them since the early 90s (my dad was retired Air Force, and my mother worked for USAA) ... It's sad how far down they've gone ... They are now rated 'D+' on Weiss Bank Ratings website ... I've moved most of my money out of their bank.
You're so correct. I left them two years ago when they applied someone else's roadside assistance to my auto insurance account. After multiple calls, and them ON TAPE admitting that they'd made the mistake, they still wouldn't change the assessment. Screw them. After 40 years of membership, I left. I'm now with AAA for my auto insurance, and once an inherited IRA matures I'll have no contact with USAA at all.
I dropped them 8 yrs ago when I purchased a new house, and they initially inspected the house & roof before signing & assured me everything was good. 2 wks after moving in they wanted to inspect again and told me to replace the roof in 14 days or I would be dropped from homeowners' ins. I had 2 wks to find a reputable roofer in a new unfamiliar area. I ended up paying $15k out of pocket for a new roof ...and needless to say, I dropped USAA after being with them for 32 plus yrs, and refuse to go back 🤬
Years ago I was renewing my boat insurance and found out it was transferred to Progressive. Now they dropped their Mutual Funds and transferred the funds to Victory. Also brokerage account closed and transferred to Schwab. Sad to see these banking problems since that and insurance is all they do.Member well over thirty years and have had good service.
That I did not think of🤔. And I'm usually the out of the box thinker. Huum u got my mind thinking now, how in the hell they are doing this to all of us.
As 50 year members, this hurts! We remember the glory days! My husband has had numerous fraud alerts on his USAA Visa cards…they just cancel the charges and issue a new card. Once fraud was committed on a card he had yet to receive! I always wondered if it was an “inside” job.
Hmm this makes me wonder - I remember 10 years ago someone stole my identity and it happened right after I applied for a loan at USAA. There were all kinds of weird purchases and all were made in San Antonio (USAA headquarters) even though I lived in a different state. They assured me it couldn’t have been anyone at USAA and I believed them, but now I’m not so sure.
With a psychopath for a CEO like Wayne Peacock, you can only imagine what goes on. I have $1 in a savings account there just to keep it open. Cancelled my Visa card, and took the hit to my credit score. Cancelled my renter's insurance, and my home owner's insurance went to Foremost. I can't get away from USAA fast enough. 27 years of paying for insurance and only filing 1 claim in 2021. That was when I learned how awful USAA has become under Wayne Peacock.
I joined USAA when they opened up to senior enlisted. Was very happy with them, for 3-4 years. Then my homeowners and car insurance started jumping over $100.00 each year. They never would tell me why. But did feed me a load of crap about shingles on roofs, in my state. Left them and my insurance dropped by 50%. They just got too greedt.
I was once extremely satisfied with USAA, having banked with them for 25 years. However, the service, which was once exceptional, has drastically deteriorated in recent years. A few years ago, I became so frustrated that I closed all my accounts, except for one, and now maintain as minimal a balance as possible in that account. Clearly, the appreciation for military customers isn’t what it once was. Which seems to mirror a broader sentiment in America where politicians have realized they can express disdain for service members and their families, yet continue to label themselves as patriotic, without facing any political repercussions. Likewise, USAA.
27 years with USAA. $1 in a savings account there. Closed my credit card and took the hit to my credit. Cancelled my renter's insurance. I'm about to cancel my car insurance. Wayne Peacock is the worst thing to ever happen to USAA.
I get a stress attack every time I have to call them. They’ve raised my auto insurance many times, no explanation. I have zero tickets and no accidents. I drive 3000 miles a year. They lie at every opportunity. I’ll be searching got another company. I literally hate what USAA has become.
Same here. After 15 years I'm leaving because they won't pay my property claim from almost a year ago !! Had to hire a public adjuster to go after them. And maybe a lawsuit if that doesn't work. 🙄
I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?
It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.
True, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $550k so far.
I won't pretend to know everything, though. Her name is Annette Marie Holt but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
I have been a loyal USAA customer for many decades. I’ve noticed for the last several years, however, that their customer service has continued to slide. At this point I’m considering moving EVERYTHING to another/other company)ies.
We moved hundreds of thousands of dollars out from them after they not only allowed someone to hack into my account, couldn't find who the hacker was and left the hacker attached to my account. I figured it out 6 months later and told them and left
I was going through my USAA account and seen a live $10k deposit made to my account. I quickly went through the password and pin reset. That $10k deposit really helped me out.
this is why local news channel is important. it can get the news that is very important and close to the people and get them the help and attention that is needed to force these company to do the right thing
When I joined USAA back in 1975 they were only staffed by ex us military and there customer service was great. They have gone downhill from there on all fronts sadly.
My sister worked for USAA insurance after she finished college back in the 70s. She quit in the late 80s when she heard that she was going to be transferred to Texas. She and her group used to handle the insurance claims for a certain region of the US. This was before call centers became the rage for companies.
Exactly the same here! After joining in 1975, they were great! I never really thought about again until several years ago after bad service and increased prices. Definitely switching now
Is this happening from the inside?? Because they sure didn't want anybody to know until the reporters got involved?? And they're still claiming innocence and trying to charge people fees 😡
Not with this bank, but, I had the same thing happen to me back in January. All banks are targeted. When I asked my bank what I do or what is in place to protect my money, I was told scammers are clever and hard to catch. The bank returned the money back into my account. It was a hot mess.
I agree. It's not just this Bank. Many Banks are being targeted. Especially CHASE Bank. For some reason, scammers love CHASE. At this point, your money might be safer inside the mattress. 🤣🤣
Thanks for the Support. Great to hear of the Local broadcast station doing such great service, when the Behemoth financial services group seems to have lost its way.
USAA forced me to have $128,000 policy because that was minimum it would take to replace my home. 8 years ago my home burned. Complete loss to me, $43,000 is what I got. I live in a storage building now still rebuilding.
I had that problem for a couple years until I started submitting my own photos to them of the hail damage to my roof instead of letting the insurance adjuster do it. That way, I legally had proof that there was damage up there. I didn’t take those photos earlier because I have a terrible fear of heights and a health problem that causes me to get dizzy sometimes. My roof was _terribly_ damaged. Ten hail marks per 10x10’ square is the legal requirement for covering a new roof, but I could count at least 20 marks in a single square foot anywhere up there. I was about to get a lawyer until they decided to cover a new roof for my house.
I’m a 40+ year member of USAA. Thanks KABB for putting this on TH-cam! I live in the mid-Atlantic, and would likely to have never heard of this problem! I’ll be keeping a much closer eye in my accounts from now on!
I was a loyal member of USAA for decades, then I decided to jettison the home insurance and auto because they became uncompetitive. I am not a bank member nor will I ever become one.
A similar thing with fraudulent USAA accounts being created and then funds withdrawn happened to my late father, a retired US Army Colonel. USAA initially accused him of the fraud and wanted him to cover thousands of dollars in missing funds. To make a long story short it became pretty clear that this was all being perpetrated by insiders, dirty employees at USAA. Their house needs a good cleaning and until they do so I would recommend you and your money stay away.
They accuse everyone of fraud. I was with them for 25 years before I ever filed 1 claim, they *immediately* tried to accuse me of a form of fraud, and I'd already hired an environmental expert to come in, assess the damage in my house, and compile a report of science-based data. After that, I realized there are two side to USAA: one where they get you to enroll in their products and service and the other where they hire sociopaths to make your life miserable and accuse you of fraud so they don't have to pay claims or cover fees for banking errors.
I had a pre-approved mortgage with USAA and when the builder requested the closing they declined the loan, I had banked with them for most of my active duty career in addition to several insurance products. I simply chalked it up to my retirement and change of income. I was pissed however, and moved all the money out including liquidation of all the investments and even sold off the life insurance policy. We eventually bought another home through another financial institution, but unfortunately lost the house we initially wanted. I always thought I was a bit rash to drop the bank entirely, and had recommended them to my daughter who recently commissioned into the Army as a RN. Good she didn’t take my advice, the bank fraud sounds like a train wreck.
27 years. Don't ever file a claim with them, or you will see how many sociopaths they have working in the claims department. I withdrew all my cash except $1 to keep the account open. I cancelled my USAA Visa and took the hit to my credit report. I cancelled my renter's insurance and kept my homeowner's insurance with Foremost. Now, all I have to do is cancel my auto insurance. Wayne Peacock truly destroyed USAA.
This is a sad state of affairs for a once esteemed institution. As a decades long member of USAA, and one who is currently having a similar experience, I am without words to understand how things have gotten so bad at USAA😞
Completely pulled out of USAA 9 years ago. So glad I did. It started with the insurance making dramatic jumps in rates but lack of customer service aided my decision as well.
Same 25+ yrs never had an issue but now im also concerned. I have everything with them too. Mortgage, car insurance, home insurance, life insurance and banking. *sighs
Been a member 40 years. About 2014 USAA went from being a great company to trying to increase membership and raise rates. Up until then when I checked insurance rates they would decline giving me a quote saying we can’t touch them. Well now they are 40-60% more.
The bank crisis isn't over yet, and experienced individuals know credit crises don't end quickly. Some find it amusing that some think it's resolved, but in reality, we're headed for a major economic downturn due to this credit contraction.
Many overlook that banks are profit-driven businesses. I don't trust keeping a large sum in a bank, instead, I invest with guidance, enjoy the benefits, and save for retirement.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..!
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
i was in OCS in the mid 90s and joined. great for 10yrs. my main bank was so "proud" to be not banking with them only but a "member" of USAA. then after 2001 then went to E6 and above. a few years later ANY rank..E1...then the best: if you ever, ever was in the military you can join and on the website from what i remember you just "swore" of such. no DD214 needed. that was there downfall. how many 19yoa E2's wrap their car around a pole each month in the US compared to a 45yoa LTC from West Point.? exactly. they wanted more membership? oh they "got" it OK. they got it.."good".
@tailwind12 Family members are extended indefinitely. My Grandfather was a Lt Commander in the Navy. My mom, his daughter has USAA but my dad had to get rid of it when he divorced my mom. He could no longer be a member. I have it, my kids have it and my sons wife has it. Direct linage can have it and their spouses as long as they stay married. I am sure my grandkids will have it too. When they say family they mean it lol. I had my USAA member number before I was even a teen. I dont remember what it took. I helped my kids by telling them my member number and that was about it. They received member numbers pretty easily.
@@JoeKyser This is not a true story, once you have USAA benefits you always have them. My trash ex wife is still a member and has been for over 22 years. The only thing her family ever served was drugs. This policy is also backed up by their website and the thousands of barracks rats that still have zero ATM fees.
@@tailwind12 Your personal story really has nothing to do with the subject of this video. USAA's Federal Savings Bank had insufficient safeguards against banking fraud, and their fraud prevention and customer service efforts were inadequate or non-existent.
@@kenc2257 as narrow-minded in stupid as it is you're entitled to your opinion. yes it does have something to do with USAA. I had been a member since the mid-1990s and after 2002 notice a significant decline in their customer service and other factors and yes there was even some breeches back then. the the personnel they let in as customers can affect these incidents by the sheer number... Of customer clients they took in.. that was not the case 20 years ago. I'm not all doubting the stories but there are some that I do question. again this is not 1995 that you get a statement in the mail. If more than $50 is removed from any of my bank accounts I immediately get an email and a push notice. So exactly what happened with all these "victims" that claimed they lost thousands of dollars and they never put the settings on a bank website to be notified if say $500 is removed. you've made your comment. Waste your time and efforts commenting to somebody else do not write or comment to me again with this stupidity and comment.
My basement flooded ruining drywall and many personal items. My estimate was 18k personal. USAA only gave me 4k total. I fought for more for over a year and they gave me 1k more🫤. I am ex military and I had USAA for over 23 years. The audacity ! I got a new insurance provider and I’m switching to them in a month from USAA. It’s awful how they treat vets now.
That's 4k more than they gave me. They lied, denied, blame-shifted, ignored, feigned ignorance and essentially accused me of fraud, despite the fact that I hired an environmental expert to go in, take photos, take samples for mold to be tested at an independent lab, and they still didn't pay a penny, running around right up until the statute of limitations ran out.
USAA is definitely not what it use to be. I discovered this year that they were charging me on my homeowners insurance the same for outside structures ie a fence as the total value of my home. On top of this other little things that added up a LOT. I have everything through then and am seriously thinking of shopping around now.
Thank you for this comment! I am dealing with the same issue now after Hurricane Helene. While other structures are "valued" by my policy at an exorbitant rate- (5 times value) they are now questioning coverage. My bad for not catching this valuation before but, like many others, trusted USAA as a 50 year member.
Interestingly, I was talking to an inspector during a home inspection 3 weeks ago and I asked him about home owner's insurance. He literally said "USAA used to be unbeatable, but I don't know what happened to them"
I had the same issue when I shopped for homeowners insurance. They were double everyone else. And I bought a car recently, same thing. I only bank with them now, and I'm starting to think about leaving entirely
@@ocdidi93 as a customer you don't know where they get the information. Theirs been so many data breaches from major companies. But yes people need to protect their information. And people need to check on their elderly parents/relatives.
I'm truly shocked. As an account holder I've found their security to be so extreme I can barely access my own accounts. No customer should ever be responsible for fraud. Very sad.
I've been a member for about 10 years. My insurance rates went DOWN this year. I always reset my desktop after doing any financial transactions to prevent any data being on my computer for any other browsing. This seems to help prevent outside interference or interception of my financial dealings or passwords, etc. It's served me well, since I have no suspicious activity that I've seen. As for insider problems, that's not controllable with anything other than using the records they keep of any chats, etc. I am sorry some folks have run into problems, but I still like USAA and will keep them as my #1 bank. I have noticed some customer service reps are less familiar with USAA policies, but I contribute that to woke hiring, not necessarily a failure of the company itself.
@@NoVaRedacted When did you turn 25? How do you pay? Annually, semi-annually, or monthly. You stated they raised your rates $350, so I'm assuming that's an annual total. It's true their rates went up (for me) at the beginning of the year, but my mid-year (I make semi-annual payments) payment turned out to be reduced from that amount. Insurance went up across the board at the beginning of the year. Everyone was pricing in runaway inflation, etc., at the beginning of the year. It's still running away in other segments of the market, but it's cooling down in our insurance a little. May I suggest you find another company to insure your vehicle(s). I insure 5 vehicles plus my homeowner's insurance through USAA, so I get discounts each time I pay. I pay less than $200/vehicle for 6 months of liability, per vehicle. All vehicles are paid off (if you can't afford it, don't buy it). I use a CC to buy one, then pay that off as fast as I can (avoid those finance charges). I'm 72yo, so I know what I'm talking about. Good luck with a new company my friend.
My main question is why has the FDIC (Federal Deposit Insurance Corporation) or even Department of Treasury not instigated fraud investigations in these account cases? Sounds to me that USAA cybersecurity practices are suspect in protecting their customers' accounts.
USAA over charging me for car insurance .. and they know... every time I see the comercials about how they help veterans and active duty military🤢🤢🤢🤢🤢🤢🤢
I’ve had it happen to me with USAA. Somebody on the inside is responsible for this. As a 36B (Financial Management Soldier) it’s definitely an inside job!
when USAA wants paying Gronkowski to appear in commercials I knew it was over. A guy who was never in the military and probably got paid a big load of $$ for a commercial.
I’ve noticed a drop off in customer service more than 10 years ago. We are all used to a new person in customer service and we can tell. Generally, this doesn’t bother me at all. Unfortunately, USAA seems to constantly be training new people. My chances of getting hold of one of the old salt’ is about one in 20. I considered leaving USAA a few times, and this new story is another reason. Back when I originally became a, USAA member, customer service was good and the insurance rates were competitive. That certainly isn’t the case these days because I’m paying higher every time my premium renews with zero claims. While I understand how they establish their rates, I now feel I’m paying for the fines they had to pay the government. 🤨
6-3-24 Anch AK ...I am USAA member, +40 years ....will perform due diligence on this issues / events ....The commentary / analysis / news makes me worried , where there were NO WORRIES before ..! ! !
After 27 year, all I have left with USAA is auto insurance. I filed my *only* claim in 2021 and was treated like I was trying to commit some kind of fraud. I hired my own independent expert to take photos of my home, to send sample to a lab, create a report, and that is the only thing that stopped them in their tracks. They were going to go full-steam-ahead with the "you're committing fraud" story, despite the fact that I've paid them for 25 years and never once filed a claim. I ended up canceling my renter's insurance, put my homeowner's with Foremost, closed my USAA Visa card, cashed in my CD, took all money out of savings except for $1 to keep the account open, and I will never again trust USAA. Please do your due diligence and be prudent. I would hate for what happened to me to happen to you. My father was USAF Colonel. When Wayne Peacock became CEO in Feb of 2020, USAA went into a psychopathic tail-spin, which is how all this fraud is happening. If you had any idea of the sociopaths I had to deal with during the claims process, and I'm talking about the Supervisors, not the regular claims people. It's no wonder they have inside fraud going on.
Experienced the same, seen a deposit on my account.. called and questioned the amount that showed on my account. Then received calls and threats that I owed them money for claims that they waved. Went all the way up to management, contacted VP and never received a response
I have one too. Someone called into USAA & pretended to be me, somehow had my pin (which nobody knew & wasn’t written down), etc. USAA wouldn’t even give me any info. since nothing was taken. I even called the FBI to report it, to which I never even got a call back. I’m going through personal things that I believe it is/was tied to that. But USAA wouldn’t give me info, and never got a call back from the FBI.
The FBI doesn't care unless it's big enough to be on their radar, and even then, they just don't care. They'd rather spend their time making stuff up and going after people in witch-hunts and dick around rather than actually do their jobs.
I belong to them for 29 years and dropped them when they didn't do their job once again. I lost over 12k approx due to negligence on their behalf on 2 separate occasions. Both were insurance issues one house and the second my stolen enclosed trailer. I would NEVER go back. I should have never started with them when their beginning was to provide service to only Officers then they allowed Enlisted at a later date. I found out Officers received a better rate with insurance then Enlisted just solely based on rank. USAA has went down hill in the past 10 years. Do yourself a favor and don't have one organization take care of multiple things in your home.
It's true. 27 years with them. My father a retired USAF Colonel. Officers definitely get better rates (50 years with USAA). This company is a sham now.
USAA went corporate in the 1990's. In just a few short years, they brought-in industry executives who applied the same disgusting profit-driven tactics as everyone else. As in the national hospital system, insurance and banking have homogenized into the same pool of inefficiency and greed. I became a USAA member in 1978 and have watched their decline over these past decades. Their last good leader - from my perspective - was a retired General Herres (I think). But that was years ago.
And this is why i started pulling my money out of the bank… i barely keep anything in my bank nowadays.. if someone was to get access to my bank. They would be very disappointed.
My credit union checking account was wiped out a few days after I got some rolls of quarters from a teller. Inside job? I received all of money back. I now keep money out of checking until bills are set up to be paid.
I’ve left USAA after 11 years with them. I’m now with a local credit union that has a physical branch walking distance from my house. That was one of the major things that irritated me about USAA; the few times I needed a physical branch (like to deposit cash given to me) there weren’t any (I live in CA). The only physical branch is the ONE in San Antonio. I’m much happier with the personalized service I get with my credit union.
As a vet I had their car n home insurance for a couple years about 8 years ago til it got too expensive...n considered them this year, but am glad I never pursued them beyond thought. Pray the affected are given comfort moving forward. 🙏
When I was a young troop USAA would not accept me into their car insurance program because I didn't have enough rank for me to qualify. Ever since that day whenever I get anything in the mail from them I just trash it. Hate to see my fellow vets scammed but the lesson is get your money out and never do business with them again.
USAA dropped our home insurance after a storm hit South Alabama. I went to State Farm. USAA ran from the NW Florida and South Alabama like a scared school girl. I used to have ALL my financial services thru USAA, mortgage, investing, credit cards, savings, but now only just the checking account. I switched the other services over to a local credit union and received better rates and SERVICE.
Listen people. Car and homeowners insurance rates are NOT based on your driving record or your never filing a homeowners claim. It's based on how many payouts the insurance companies have to payout across the country yearly. With all the tornadoes, hurricanes, hail and floods nationwide, THAT is the reason for increased amounts of policy payments. Don't believe me, ask your insurance that question. I found out by questioning "why my insurance rates increased with perfect 50+ years of no tickets, or accidents AND 25+ years of homeowners insurance and NO claims.
This really surprises me because USAA has always been great when we have had fraud issues. I paid a hospital $596.68 in copays and they continued to bill me even though it had been paid in full. The hospital couldn’t tell me, my husband, or USAA where the money went, over the phone and in person with the billing department, not even the supervisors could tell us where the money went or what account it went towards. USAA recouped the money and the hospital will never get paid for it and they never will. What’s sad is I’ve met other people with similar stories to mine with this hospital. I thought it was happening before but with $20, $30 copays it’s hard to prove. But with this one and its specific amount it was the final straw and proof I needed to find out what was up with this hospital.
Unfortunately, there are scammers hired by many companies that handle sensitive information. Major phone carriers have had similar occurrences, in which customers identity and money was stolen. We produce a lawless society by allowing any and every type of behavior, but somehow expect that the people from that society will all play by the rules.
They screwed me on car insurance they barely payed after a drunk guy sideswiped my parked truck and they charged more than any other quotes from regular auto insurance with the same plan details
USAA used to be the best insurance you could get but not any more. I left USAA 5 years ago for both insurance and banking. There service sucks! It is ashamed they treat service members and their families this way.
I'm shocked! I learned so much today. I've been a little upset with USAA since they raised my car insurance rate based on my credit score taking a slight dip last year. True story! I hadn't had an accident or made a claim or missed a payment. Somehow Experian telling them my score went down a bit made me a higher driving risk (???) But I always had faith in their reputation as a secure place to bank and a place that stands behind those who serve this country. Both my parents are veterans and I convinced them both to open USAA accounts. This is disappointing and alarming. Good job, Mr. Darien, standing up for our veterans! You advocated for them with the institution they put their trust in which failed them... I can't believe USAA has become such a disappointment.
Yes, in California where I live, the state does NOT allow them to check your credit for that reason. However, if you bank with them, they know your credit score anyway. It's criminal to charge people who are already struggling to pay their bills MORE money for a different product. smh I'm really sorry they've treated you so poorly. It's no person. They're ruthlessly greed driven and morally bankrupt.
After getting hit with fraud 8 times in one year, I started moving money to others banks. It’s too much to try to trust them and they treat you like dirt when you need them, not there for their members like they say all the time.
Thank The Lord that the problem solvers were able to start the repercussions for the members to get their money back. But my concern is, for as much training that they do to monitor if someone has suspicious money laundering activity on a person’s account, how was it that no one saw or was concerned that there might be something suspicious seeing such large & unusual deposits & withdrawals? I learned that over 20 years ago when I worked as a bank teller. Not only USAA but banks in general are not owning up to their own policies; and thereby, not protecting their customers. Which brings me to my next question: money laundering must still be the way for crooks to hide money from the government? Heck, the banks don’t see it either - smh🙄. I apologize, one more question: so what do the fraud department do🤨?
Honestly this is concerning but, the opposite from my experience. I had a piece of fraud around 2012-2013 and they called and resolved it for me. $800 dollar worth of transfers. Nothing like that since...
I had this happen at 2 other banks before banking at USAA. I lost 10 of thousands of dollars with other banks. They refused to do anything. This is disheartening to hear it is now what USAA is doing to their members
So glad we quit USAA a few months ago! The banking customer service reps knew ABSOLUTELY NOTHING and had to LOOK UP THE ANSWER TO EVERY SINGLE QUESTION-we got REAL TIRED of dealing with clueless people. And now that Powell has said that smaller regional banks will be going bankrupt, there’s no doubt that USAA will be down for the count!! Good bye and good riddance.
Nowadays banks suck. Avoid them. Use a local credit union in the town where you live. If a problem arises you can go there and speak with them face to face. The satisfying part is them knowing who your are when you walk through the door.
I attempted to join USAA once about 10 yrs ago. I was told that I already had an account and wanted copies of my DD214 and ID, SSN...to prove that I, was me. I knew then they could not be trusted. I should call again to see how much money I still have in that fake account if it ever existed.
First I have heard of this. I lost lots through fraud last year as a USAA member! At first they helped me but they ended up blaming me. I no longer bank there. Thanks for this report. Did not know there were problems on the insurance side too. It’s bad when the press has to solve USAA’s problem.
IF you go to the BB this is happening to most banks TBH, not just USAA. I searched up Bank of AMerica, US Bank and 3 others they all have the same ratings of 1/5 and thousands of complaints.
When I switched insurance carriers a few years back, the vaguely worded, ominous letters they sent, threatening some nebulous legal action because I didn't cancel with the proper protocol; seemed fairly deranged, not the helpful company from 20 years ago.
Why did it have to go to a reporter investigating it and publicizing it for USAA to do anything about it.......???????????
That begs the question...
Because it is going to cost USAA alot of money-But more importantly, it is going to cost USAA a whole lot of bad publicity. USAA was probably hoping they could sweep it under the table.
@@johnmartin9823Just like the government or other large companies which are all tied together. Crony capitalism at its finest. Their bottom line matters, not yours.
Yup…. USAA doesn’t care anymore
I jumped on here to make the same comment. Glad you made it first. FYI - this is not about the fraud. Yeah, it happens. It's about how the corporation with whom you have placed your trust chooses to turn a blind eye. Been happening with USAA for years - I left them more than 10 years ago over the same issue. Hopefully more stories like this will let the world know.
I am really concerned about the current bank crisis , these are all the signs of yet another 2008 market crash , so my question is do I still save in the United States dollar or is this a good time to buy gold or some other assets ? USAA today who knows who tomorrow
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
Given the current state of the market and the potential risks to the economy, I would advise that it's wise to hold onto some gold. Instead of investing blindly right now, it may be better to do your research or seek guidance from a financial manager to make informed decisions.
Thanks for replying, You seem to know much, How did you go about it and can you recommend an advisor like yours?
The decision on when to pick an Adviser is a very personal one. I take guidance from Sharon Ann Meny to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
This is when corporate media shines- when aiding consumers ! Please do more of THIS and less political propaganda. Good job. Please keep it up.
Nope.
The media is running the cover-up for the government.
Foreign nationals were doing this fraud and the gov't didn't want to cause panic.
oh don't worry, it is still political because of who USAA supports politically. They would never go after a big bank because corporate media banks with them.
Bingo! @@rotaryenginepete
@@rotaryenginepetelmao USAA is a big bank 😂. And yes there are plenty of new articles on other banks google Wells Fargo. Fyi Big banks support GOP because they favor less financial regulations.
They basically hired criminals to staff their call centers to save a buck and refused to take accountability for it. I joined as an E-2 and kept accounts there for over 20 years. They were really good throughout my career but seemed to go downhill after I retired. I haven’t dealt with them in years and I’m glad they are finally getting called out. The customer service is worst than the cable company. This is good reporting.
That's the whole "Equity and inclusion" at work for ya ;-)
Their customer service is horrible. Most of them cannot speak English and may be from another country. It also takes them hours to answer the customer service line horrible
I had the same experience, after I retired they no longer offered the pre-approved auto loans and I had trouble getting a mortgage with them. Many people told me USAA don’t care about you after retirement.
@@07wrxtr1please elaborate on your comment. Don't be scared. If you're a bigot, stand proud! 😂
@@07wrxtr1that's not that at all if anything it sounds like cutting cost and hiring cheaply and not vetting employees...
USAA is indeed no longer what it used to be.
I've been with them since the early 90s (my dad was retired Air Force, and my mother worked for USAA) ... It's sad how far down they've gone ... They are now rated 'D+' on Weiss Bank Ratings website ... I've moved most of my money out of their bank.
You're so correct. I left them two years ago when they applied someone else's roadside assistance to my auto insurance account. After multiple calls, and them ON TAPE admitting that they'd made the mistake, they still wouldn't change the assessment. Screw them. After 40 years of membership, I left. I'm now with AAA for my auto insurance, and once an inherited IRA matures I'll have no contact with USAA at all.
I believe it’s all inside job employee still in people personal information still in their money
I dropped them 8 yrs ago when I purchased a new house, and they initially inspected the house & roof before signing & assured me everything was good. 2 wks after moving in they wanted to inspect again and told me to replace the roof in 14 days or I would be dropped from homeowners' ins. I had 2 wks to find a reputable roofer in a new unfamiliar area. I ended up paying $15k out of pocket for a new roof ...and needless to say, I dropped USAA after being with them for 32 plus yrs, and refuse to go back 🤬
Years ago I was renewing my boat insurance and found out it was transferred to Progressive. Now they dropped their Mutual Funds and transferred the funds to Victory. Also brokerage account closed and transferred to Schwab. Sad to see these banking problems since that and insurance is all they do.Member well over thirty years and have had good service.
Seem like nothing happens until a news station embarrass the corporation.
You can have the best fraud detection program but it's useless if you have hired crooks due to inadequate screening process for new employees.
That I did not think of🤔. And I'm usually the out of the box thinker. Huum u got my mind thinking now, how in the hell they are doing this to all of us.
If rs very wierd.
Likely Crooks from Other Banks or Brought over from a Manager of another Bank...
think DEI hiring
Do you know the requirements to join this institution. It ain’t hard
As 50 year members, this hurts! We remember the glory days! My husband has had numerous fraud alerts on his USAA Visa cards…they just cancel the charges and issue a new card. Once fraud was committed on a card he had yet to receive! I always wondered if it was an “inside” job.
Hmm this makes me wonder - I remember 10 years ago someone stole my identity and it happened right after I applied for a loan at USAA. There were all kinds of weird purchases and all were made in San Antonio (USAA headquarters) even though I lived in a different state. They assured me it couldn’t have been anyone at USAA and I believed them, but now I’m not so sure.
With a psychopath for a CEO like Wayne Peacock, you can only imagine what goes on. I have $1 in a savings account there just to keep it open. Cancelled my Visa card, and took the hit to my credit score. Cancelled my renter's insurance, and my home owner's insurance went to Foremost. I can't get away from USAA fast enough.
27 years of paying for insurance and only filing 1 claim in 2021. That was when I learned how awful USAA has become under Wayne Peacock.
I joined USAA when they opened up to senior enlisted. Was very happy with them, for 3-4 years. Then my homeowners and car insurance started jumping over $100.00 each year. They never would tell me why. But did feed me a load of crap about shingles on roofs, in my state. Left them and my insurance dropped by 50%. They just got too greedt.
Your bank wouldn't know why your insurance increased, your insurance is responsible for that
@@lovly2cu725 I had USAA auto and USAA homeowners insurance.. They are all part of the same family.
It went up because you were enlisted
Same here. Ditched them.
@@Slide61 Could have been the reason.
I was once extremely satisfied with USAA, having banked with them for 25 years. However, the service, which was once exceptional, has drastically deteriorated in recent years. A few years ago, I became so frustrated that I closed all my accounts, except for one, and now maintain as minimal a balance as possible in that account.
Clearly, the appreciation for military customers isn’t what it once was. Which seems to mirror a broader sentiment in America where politicians have realized they can express disdain for service members and their families, yet continue to label themselves as patriotic, without facing any political repercussions. Likewise, USAA.
Well said.
When someone like a President sets the talk and tone for veterans. It makes a difference on how many in the general population will behave.
Scumbags like drumpf
27 years with USAA. $1 in a savings account there. Closed my credit card and took the hit to my credit. Cancelled my renter's insurance. I'm about to cancel my car insurance.
Wayne Peacock is the worst thing to ever happen to USAA.
@@sageallure Sad, but true!😞
I get a stress attack every time I have to call them. They’ve raised my auto insurance many times, no explanation. I have zero tickets and no accidents. I drive 3000 miles a year. They lie at every opportunity. I’ll be searching got another company. I literally hate what USAA has become.
Same. We’ve been with them for decades. We are looking at other options
Thanks for the Info...
My insurance went up also and haven’t had a ticket in 14 years. I may switch.
Same here. After 15 years I'm leaving because they won't pay my property claim from almost a year ago !! Had to hire a public adjuster to go after them. And maybe a lawsuit if that doesn't work. 🙄
Same. I had home and auto insurance with the for over 30 years. They upped premiums without reasons so I found a company who values me and my business
So much respect for this Problem Solver investigative reporter.
That’s where I used to keep my emergency savings - but I pulled it out after learning about this.
Good move
Hopefully you put it in a high yield savings account so that you can get interest payments every month.
No High yield savings can ever compete with the returns cryptocurrency gives. It's why they scare the public into staying away from it. 6%-20% APR 😎💰
I’m pulling out
Go Penfed or NFCU
I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?
It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.
True, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $550k so far.
@@williamDonaldson432 my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
@@williamDonaldson432 Could you kindly elaborate on the advisor's background and qualifications?
I won't pretend to know everything, though. Her name is Annette Marie Holt but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
I have been a loyal USAA customer for many decades. I’ve noticed for the last several years, however, that their customer service has continued to slide. At this point I’m considering moving EVERYTHING to another/other company)ies.
We moved hundreds of thousands of dollars out from them after they not only allowed someone to hack into my account, couldn't find who the hacker was and left the hacker attached to my account. I figured it out 6 months later and told them and left
Being loyal has nothing to do with anything.
Considering?! I'm long gone!
You need to use your head!
You and me both…
I was going through my USAA account and seen a live $10k deposit made to my account. I quickly went through the password and pin reset. That $10k deposit really helped me out.
😂😂😂😂 love this. You outsmarted the scammers. Good for you!!!!
😅 You beat the scammers. Good one.
Brilliant move! 😀
✌🏽💰
The feds need to get involved!!!!!!!!!!!!!!
The feds probably did it. FJB!
Why, they will just make it worse!
Likely, they may have a Crook in the System, funneling money to other Overseas Banks..
Oh they are already involved 😂
The feds are part of it
this is why local news channel is important.
it can get the news that is very important and close to the people
and get them the help and attention that is needed to force these company to do the right thing
When I joined USAA back in 1975 they were only staffed by ex us military and there customer service was great. They have gone downhill from there on all fronts sadly.
My sister worked for USAA insurance after she finished college back in the 70s. She quit in the late 80s when she heard that she was going to be transferred to Texas. She and her group used to handle the insurance claims for a certain region of the US. This was before call centers became the rage for companies.
The biggest crook of all is Wayne Peacock, the psychopathic CEO. He's definitely not military and the haphazard way he runs the company, it shows.
Exactly the same here! After joining in 1975, they were great! I never really thought about again until several years ago after bad service and increased prices. Definitely switching now
Is this happening from the inside?? Because they sure didn't want anybody to know until the reporters got involved?? And they're still claiming innocence and trying to charge people fees 😡
Yes
@@NinaMayberry proof?
What fees
Not with this bank, but, I had the same thing happen to me back in January. All banks are targeted. When I asked my bank what I do or what is in place to protect my money, I was told scammers are clever and hard to catch. The bank returned the money back into my account. It was a hot mess.
I agree. It's not just this Bank. Many Banks are being targeted. Especially CHASE Bank. For some reason, scammers love CHASE. At this point, your money might be safer inside the mattress. 🤣🤣
Sounds like the bank is in on it.
@@williamhodges3941 I told my bank that I believe what happened in my case was an inside job.
@@williamhodges3941 Yes, inside job!🤬🤬
@@jackfrost99 until thieves swing by and start going through your mattresses. This country is no longer going down hill...it is free falling.
Thanks for the Support. Great to hear of the Local broadcast station doing such great service, when the Behemoth financial services group seems to have lost its way.
I was warned about USAA years ago from members, their insurance premiums would increase until you cancel.
Every time I try to make a USAA homeowner's insurance claim it is DENIED for one reason or another. They are failing service members!
USAA forced me to have $128,000 policy because that was minimum it would take to replace my home. 8 years ago my home burned. Complete loss to me, $43,000 is what I got. I live in a storage building now still rebuilding.
I had that problem for a couple years until I started submitting my own photos to them of the hail damage to my roof instead of letting the insurance adjuster do it. That way, I legally had proof that there was damage up there. I didn’t take those photos earlier because I have a terrible fear of heights and a health problem that causes me to get dizzy sometimes. My roof was _terribly_ damaged. Ten hail marks per 10x10’ square is the legal requirement for covering a new roof, but I could count at least 20 marks in a single square foot anywhere up there. I was about to get a lawyer until they decided to cover a new roof for my house.
They went to contract employers a few years ago and it’s gone down hill since then.
I’m a 40+ year member of USAA. Thanks KABB for putting this on TH-cam! I live in the mid-Atlantic, and would likely to have never heard of this problem! I’ll be keeping a much closer eye in my accounts from now on!
I always check my bank and brokerage accounts twice a week. There's no excuse for me to not to since I use a phone app.
I was a loyal member of USAA for decades, then I decided to jettison the home insurance and auto because they became uncompetitive. I am not a bank member nor will I ever become one.
A similar thing with fraudulent USAA accounts being created and then funds withdrawn happened to my late father, a retired US Army Colonel. USAA initially accused him of the fraud and wanted him to cover thousands of dollars in missing funds. To make a long story short it became pretty clear that this was all being perpetrated by insiders, dirty employees at USAA. Their house needs a good cleaning and until they do so I would recommend you and your money stay away.
They accuse everyone of fraud. I was with them for 25 years before I ever filed 1 claim, they *immediately* tried to accuse me of a form of fraud, and I'd already hired an environmental expert to come in, assess the damage in my house, and compile a report of science-based data.
After that, I realized there are two side to USAA: one where they get you to enroll in their products and service and the other where they hire sociopaths to make your life miserable and accuse you of fraud so they don't have to pay claims or cover fees for banking errors.
I've been with USAA since 1976. The best thing I ever did was start banking with Navy Federal. Never been happier with a bank.
Navy Federal is a credit union, not a bank. USAA is a bank. What's the difference? Your $$$ and peace of mind.
@@MrNaturalSez Well put!
I had a pre-approved mortgage with USAA and when the builder requested the closing they declined the loan, I had banked with them for most of my active duty career in addition to several insurance products. I simply chalked it up to my retirement and change of income. I was pissed however, and moved all the money out including liquidation of all the investments and even sold off the life insurance policy. We eventually bought another home through another financial institution, but unfortunately lost the house we initially wanted. I always thought I was a bit rash to drop the bank entirely, and had recommended them to my daughter who recently commissioned into the Army as a RN. Good she didn’t take my advice, the bank fraud sounds like a train wreck.
Thank you for your service
That's happens when you outsource the processing of your customer data abroad 😑
Every problem I've had with USAA has been an American working in the US. 27 years with them.
35+ year USAA member here. This is DISTURBING.
56 year member here. But, I only have insurance.
27 years. Don't ever file a claim with them, or you will see how many sociopaths they have working in the claims department. I withdrew all my cash except $1 to keep the account open. I cancelled my USAA Visa and took the hit to my credit report. I cancelled my renter's insurance and kept my homeowner's insurance with Foremost. Now, all I have to do is cancel my auto insurance.
Wayne Peacock truly destroyed USAA.
This is a sad state of affairs for a once esteemed institution. As a decades long member of USAA, and one who is currently having a similar experience, I am without words to understand how things have gotten so bad at USAA😞
Wow. This is the first I’m hearing of this. I’ve been with usaa for most of my life.
Here's how: Wayne Peacock because CEO in Feb of 2020.
The company sold. That's what happened.
Why is the country of Georgia’s flag being shown for Curtis 1:16? They said he lives in Georgia. Surely they knew he lives in the state!?!?!?!?!
Completely pulled out of USAA 9 years ago. So glad I did. It started with the insurance making dramatic jumps in rates but lack of customer service aided my decision as well.
Wow shocking as I am a 40 year USAA member. Always treated be well.
Now I am concerned.
Same here.
Same 25+ yrs never had an issue but now im also concerned. I have everything with them too. Mortgage, car insurance, home insurance, life insurance and banking. *sighs
You should be….my parents had nearly $100k taken from their account. USAA controls are lacking….
OMG! 25 years member and very, very worried now.
25 year member here and I have noticed a decline in their customer service. I no longer have auto or home insurance through them anymore.
This story brought me to tears for those people in the story. Thank you for helping them.
Been a member 40 years. About 2014 USAA went from being a great company to trying to increase membership and raise rates. Up until then when I checked insurance rates they would decline giving me a quote saying we can’t touch them. Well now they are 40-60% more.
So why the fk do you allow them to abuse you for your entire existence??? Do something about it.
The bank crisis isn't over yet, and experienced individuals know credit crises don't end quickly. Some find it amusing that some think it's resolved, but in reality, we're headed for a major economic downturn due to this credit contraction.
Many overlook that banks are profit-driven businesses. I don't trust keeping a large sum in a bank, instead, I invest with guidance, enjoy the benefits, and save for retirement.
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..!
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Keep up the great work Darian! Hold them accountable. Been with them since the 90s and USAA has sure changed a lot in those years.
They let someone steal $8500 from me while deployed to Iraq and basically the response was "welp, that sucks for you".
i was in OCS in the mid 90s and joined. great for 10yrs. my main bank was so "proud" to be not banking with them only but a "member" of USAA.
then after 2001 then went to E6 and above. a few years later ANY rank..E1...then the best:
if you ever, ever was in the military you can join and on the website from what i remember you just "swore" of such. no DD214 needed.
that was there downfall. how many 19yoa E2's wrap their car around a pole each month in the US compared to a 45yoa LTC from West Point.? exactly.
they wanted more membership? oh they "got" it OK. they got it.."good".
@tailwind12 Family members are extended indefinitely. My Grandfather was a Lt Commander in the Navy. My mom, his daughter has USAA but my dad had to get rid of it when he divorced my mom. He could no longer be a member. I have it, my kids have it and my sons wife has it. Direct linage can have it and their spouses as long as they stay married. I am sure my grandkids will have it too. When they say family they mean it lol. I had my USAA member number before I was even a teen. I dont remember what it took. I helped my kids by telling them my member number and that was about it. They received member numbers pretty easily.
@@JoeKyser This is not a true story, once you have USAA benefits you always have them. My trash ex wife is still a member and has been for over 22 years. The only thing her family ever served was drugs. This policy is also backed up by their website and the thousands of barracks rats that still have zero ATM fees.
@@tailwind12 Your personal story really has nothing to do with the subject of this video. USAA's Federal Savings Bank had insufficient safeguards against banking fraud, and their fraud prevention and customer service efforts were inadequate or non-existent.
@@kenc2257 as narrow-minded in stupid as it is you're entitled to your opinion.
yes it does have something to do with USAA.
I had been a member since the mid-1990s and after 2002 notice a significant decline in their customer service and other factors and yes there was even some breeches back then.
the the personnel they let in as customers can affect these incidents by the sheer number... Of customer clients they took in.. that was not the case 20 years ago.
I'm not all doubting the stories but there are some that I do question. again this is not 1995 that you get a statement in the mail.
If more than $50 is removed from any of my bank accounts I immediately get an email and a push notice.
So exactly what happened with all these "victims" that claimed they lost thousands of dollars and they never put the settings on a bank website to be notified if say $500 is removed.
you've made your comment. Waste your time and efforts commenting to somebody else do not write or comment to me again with this stupidity and comment.
My basement flooded ruining drywall and many personal items. My estimate was 18k personal. USAA only gave me 4k total. I fought for more for over a year and they gave me 1k more🫤. I am ex military and I had USAA for over 23 years. The audacity ! I got a new insurance provider and I’m switching to them in a month from USAA. It’s awful how they treat vets now.
That's 4k more than they gave me. They lied, denied, blame-shifted, ignored, feigned ignorance and essentially accused me of fraud, despite the fact that I hired an environmental expert to go in, take photos, take samples for mold to be tested at an independent lab, and they still didn't pay a penny, running around right up until the statute of limitations ran out.
USAA is definitely not what it use to be. I discovered this year that they were charging me on my homeowners insurance the same for outside structures ie a fence as the total value of my home. On top of this other little things that added up a LOT.
I have everything through then and am seriously thinking of shopping around now.
Thank you for this comment! I am dealing with the same issue now after Hurricane Helene. While other structures are "valued" by my policy at an exorbitant rate- (5 times value) they are now questioning coverage. My bad for not catching this valuation before but, like many others, trusted USAA as a 50 year member.
Interestingly, I was talking to an inspector during a home inspection 3 weeks ago and I asked him about home owner's insurance. He literally said "USAA used to be unbeatable, but I don't know what happened to them"
I had the same issue when I shopped for homeowners insurance. They were double everyone else. And I bought a car recently, same thing. I only bank with them now, and I'm starting to think about leaving entirely
They need better fraud detection and protection. Banks need to do more. Customers should be able to request in person only wire transfers.
Sounds like a much better idea than anything else in place. Good idea👍 I like this
Bank customers also need to do more to protect their bank accounts. People get scammed every second. You would be amazed at what some fall for.
@@ocdidi93 as a customer you don't know where they get the information. Theirs been so many data breaches from major companies.
But yes people need to protect their information. And people need to check on their elderly parents/relatives.
They need honest employees that's what they need! And they need accountability when they do something wrong!
Its coming from in house
I'm truly shocked. As an account holder I've found their security to be so extreme I can barely access my own accounts. No customer should ever be responsible for fraud. Very sad.
Glad I came across this as a USAA member! Watching the Gronk commercials has made me realize my insurance rates will just go up and up.
I've been a member for about 10 years. My insurance rates went DOWN this year. I always reset my desktop after doing any financial transactions to prevent any data being on my computer for any other browsing. This seems to help prevent outside interference or interception of my financial dealings or passwords, etc. It's served me well, since I have no suspicious activity that I've seen. As for insider problems, that's not controllable with anything other than using the records they keep of any chats, etc. I am sorry some folks have run into problems, but I still like USAA and will keep them as my #1 bank. I have noticed some customer service reps are less familiar with USAA policies, but I contribute that to woke hiring, not necessarily a failure of the company itself.
@@hanknmosul USAA raised my rates $350 extra when I turned 25…. No history as to why either.
@@NoVaRedacted When did you turn 25? How do you pay? Annually, semi-annually, or monthly. You stated they raised your rates $350, so I'm assuming that's an annual total. It's true their rates went up (for me) at the beginning of the year, but my mid-year (I make semi-annual payments) payment turned out to be reduced from that amount. Insurance went up across the board at the beginning of the year. Everyone was pricing in runaway inflation, etc., at the beginning of the year. It's still running away in other segments of the market, but it's cooling down in our insurance a little. May I suggest you find another company to insure your vehicle(s). I insure 5 vehicles plus my homeowner's insurance through USAA, so I get discounts each time I pay. I pay less than $200/vehicle for 6 months of liability, per vehicle. All vehicles are paid off (if you can't afford it, don't buy it). I use a CC to buy one, then pay that off as fast as I can (avoid those finance charges). I'm 72yo, so I know what I'm talking about. Good luck with a new company my friend.
My main question is why has the FDIC (Federal Deposit Insurance Corporation) or even Department of Treasury not instigated fraud investigations in these account cases? Sounds to me that USAA cybersecurity practices are suspect in protecting their customers' accounts.
USAA over charging me for car insurance .. and they know... every time I see the comercials about how they help veterans and active duty military🤢🤢🤢🤢🤢🤢🤢
Praise God!!!! So Happy for Mr. Curtis and the others🙏👋👋👋👋🤗
I’ve had it happen to me with USAA. Somebody on the inside is responsible for this. As a 36B (Financial Management Soldier) it’s definitely an inside job!
Thank you for shining light on this and helping these people. Truly aweful.
when USAA wants paying Gronkowski to appear in commercials I knew it was over. A guy who was never in the military and probably got paid a big load of $$ for a commercial.
How about the money they gave to BLM? The members had no say in the matter.
I’ve noticed a drop off in customer service more than 10 years ago. We are all used to a new person in customer service and we can tell. Generally, this doesn’t bother me at all. Unfortunately, USAA seems to constantly be training new people. My chances of getting hold of one of the old salt’ is about one in 20. I considered leaving USAA a few times, and this new story is another reason. Back when I originally became a, USAA member, customer service was good and the insurance rates were competitive. That certainly isn’t the case these days because I’m paying higher every time my premium renews with zero claims. While I understand how they establish their rates, I now feel I’m paying for the fines they had to pay the government. 🤨
6-3-24 Anch AK ...I am USAA member, +40 years ....will perform due diligence on this issues / events ....The commentary / analysis / news makes me worried , where there were NO WORRIES before ..! ! !
After 27 year, all I have left with USAA is auto insurance. I filed my *only* claim in 2021 and was treated like I was trying to commit some kind of fraud. I hired my own independent expert to take photos of my home, to send sample to a lab, create a report, and that is the only thing that stopped them in their tracks. They were going to go full-steam-ahead with the "you're committing fraud" story, despite the fact that I've paid them for 25 years and never once filed a claim.
I ended up canceling my renter's insurance, put my homeowner's with Foremost, closed my USAA Visa card, cashed in my CD, took all money out of savings except for $1 to keep the account open, and I will never again trust USAA.
Please do your due diligence and be prudent. I would hate for what happened to me to happen to you. My father was USAF Colonel. When Wayne Peacock became CEO in Feb of 2020, USAA went into a psychopathic tail-spin, which is how all this fraud is happening.
If you had any idea of the sociopaths I had to deal with during the claims process, and I'm talking about the Supervisors, not the regular claims people. It's no wonder they have inside fraud going on.
It’s really sad when local news stations have to fight for what’s right, I’m from Baltimore Maryland and we have I-team investigates
I'm pretty sure every major metropolitain media market with ABC News team has I-team investigates.
So someone working for USAA has been involved in this or sold customers information to other people.
Yes, do a search for USAA Louisiana fraud.
I may leave them after seeing this.
What more could it take?
Experienced the same, seen a deposit on my account.. called and questioned the amount that showed on my account. Then received calls and threats that I owed them money for claims that they waved. Went all the way up to management, contacted VP and never received a response
USAA also increased their Home owners Insurance by 30% at the same time - The state of NC said they could only increase it by 8%
I have one too. Someone called into USAA & pretended to be me, somehow had my pin (which nobody knew & wasn’t written down), etc. USAA wouldn’t even give me any info. since nothing was taken. I even called the FBI to report it, to which I never even got a call back. I’m going through personal things that I believe it is/was tied to that. But USAA wouldn’t give me info, and never got a call back from the FBI.
The FBI doesn't care unless it's big enough to be on their radar, and even then, they just don't care. They'd rather spend their time making stuff up and going after people in witch-hunts and dick around rather than actually do their jobs.
Standing Salute to this news agency for standing for The People
I belong to them for 29 years and dropped them when they didn't do their job once again. I lost over 12k approx due to negligence on their behalf on 2 separate occasions. Both were insurance issues one house and the second my stolen enclosed trailer. I would NEVER go back. I should have never started with them when their beginning was to provide service to only Officers then they allowed Enlisted at a later date. I found out Officers received a better rate with insurance then Enlisted just solely based on rank. USAA has went down hill in the past 10 years. Do yourself a favor and don't have one organization take care of multiple things in your home.
It's true. 27 years with them. My father a retired USAF Colonel. Officers definitely get better rates (50 years with USAA).
This company is a sham now.
USAA went corporate in the 1990's. In just a few short years, they brought-in industry executives who applied the same disgusting profit-driven tactics as everyone else. As in the national hospital system, insurance and banking have homogenized into the same pool of inefficiency and greed. I became a USAA member in 1978 and have watched their decline over these past decades. Their last good leader - from my perspective - was a retired General Herres (I think). But that was years ago.
Same here, member since 1978. USAA has lost their way.
FACTS.
And this is why i started pulling my money out of the bank… i barely keep anything in my bank nowadays.. if someone was to get access to my bank. They would be very disappointed.
Where do you keep your money now? Ive heard dividend stocks are the way
@@canguskahn it’s a secret because scammers fraudsters and thieves are cunts.
My credit union checking account was wiped out a few days after I got some rolls of quarters from a teller. Inside job?
I received all of money back. I now keep money out of checking until bills are set up to be paid.
I’ve left USAA after 11 years with them. I’m now with a local credit union that has a physical branch walking distance from my house. That was one of the major things that irritated me about USAA; the few times I needed a physical branch (like to deposit cash given to me) there weren’t any (I live in CA). The only physical branch is the ONE in San Antonio. I’m much happier with the personalized service I get with my credit union.
Why isn’t this nationwide coverage?
As a vet I had their car n home insurance for a couple years about 8 years ago til it got too expensive...n considered them this year, but am glad I never pursued them beyond thought.
Pray the affected are given comfort moving forward. 🙏
I want to know why this isn't on the bank instead of plunked onto the consumers.
Because most fraud is due to customers giving out their info or taking part in it themselves. Rarely is it an inside job.
@@shawns4354 That's BS. Ho gaslight somewhere else. When the customer isnt at fault, the bank systems are the ones broken and liable.
My USAA homeowners insurance went up by 50% in one year (Jan 2024). Went from $850 a yr to $1280 a year. Will be looking for a new ins. company.
When I was a young troop USAA would not accept me into their car insurance program because I didn't have enough rank for me to qualify. Ever since that day whenever I get anything in the mail from them I just trash it. Hate to see my fellow vets scammed but the lesson is get your money out and never do business with them again.
USAA dropped our home insurance after a storm hit South Alabama. I went to State Farm. USAA ran from the NW Florida and South Alabama like a scared school girl. I used to have ALL my financial services thru USAA, mortgage, investing, credit cards, savings, but now only just the checking account. I switched the other services over to a local credit union and received better rates and SERVICE.
Listen people. Car and homeowners insurance rates are NOT based on your driving record or your never filing a homeowners claim. It's based on how many payouts the insurance companies have to payout across the country yearly. With all the tornadoes, hurricanes, hail and floods nationwide, THAT is the reason for increased amounts of policy payments. Don't believe me, ask your insurance that question. I found out by questioning "why my insurance rates increased with perfect 50+ years of no tickets, or accidents AND 25+ years of homeowners insurance and NO claims.
I asked my insurance company that very question. They said it was because of all the uninsured motorists getting into accidents. Makes me so mad!
This really surprises me because USAA has always been great when we have had fraud issues.
I paid a hospital $596.68 in copays and they continued to bill me even though it had been paid in full. The hospital couldn’t tell me, my husband, or USAA where the money went, over the phone and in person with the billing department, not even the supervisors could tell us where the money went or what account it went towards. USAA recouped the money and the hospital will never get paid for it and they never will.
What’s sad is I’ve met other people with similar stories to mine with this hospital. I thought it was happening before but with $20, $30 copays it’s hard to prove. But with this one and its specific amount it was the final straw and proof I needed to find out what was up with this hospital.
I didn't know that USAA was being like this. I only have a credit card with them now, but was planning to switch to them for insurance -- not anymore.
Unfortunately, there are scammers hired by many companies that handle sensitive information. Major phone carriers have had similar occurrences, in which customers identity and money was stolen. We produce a lawless society by allowing any and every type of behavior, but somehow expect that the people from that society will all play by the rules.
They screwed me on car insurance they barely payed after a drunk guy sideswiped my parked truck and they charged more than any other quotes from regular auto insurance with the same plan details
Still haven't got payed for car accident going on 2 yrs
USAA used to be the best insurance you could get but not any more. I left USAA 5 years ago for both insurance and banking. There service sucks! It is ashamed they treat service members and their families this way.
they should stop spending that BIG 😢 money on NFL Commercials and update there fraud dept
I left USAA more than 20 years ago, so glad you all have covered their truth-the mistake is usually the private persons problems.
I'm shocked! I learned so much today. I've been a little upset with USAA since they raised my car insurance rate based on my credit score taking a slight dip last year. True story! I hadn't had an accident or made a claim or missed a payment. Somehow Experian telling them my score went down a bit made me a higher driving risk (???) But I always had faith in their reputation as a secure place to bank and a place that stands behind those who serve this country. Both my parents are veterans and I convinced them both to open USAA accounts. This is disappointing and alarming. Good job, Mr. Darien, standing up for our veterans! You advocated for them with the institution they put their trust in which failed them... I can't believe USAA has become such a disappointment.
They have. Time to switch and BOYCOTT so they get the message and maybe change or go away for good !!!
You can thank your state officials for that. They’re the ones who passed the legislation to allow it. It should be illegal as hell.
Yes, in California where I live, the state does NOT allow them to check your credit for that reason. However, if you bank with them, they know your credit score anyway. It's criminal to charge people who are already struggling to pay their bills MORE money for a different product. smh
I'm really sorry they've treated you so poorly. It's no person. They're ruthlessly greed driven and morally bankrupt.
After getting hit with fraud 8 times in one year, I started moving money to others banks. It’s too much to try to trust them and they treat you like dirt when you need them, not there for their members like they say all the time.
Thank The Lord that the problem solvers were able to start the repercussions for the members to get their money back. But my concern is, for as much training that they do to monitor if someone has suspicious money laundering activity on a person’s account, how was it that no one saw or was concerned that there might be something suspicious seeing such large & unusual deposits & withdrawals? I learned that over 20 years ago when I worked as a bank teller. Not only USAA but banks in general are not owning up to their own policies; and thereby, not protecting their customers. Which brings me to my next question: money laundering must still be the way for crooks to hide money from the government? Heck, the banks don’t see it either - smh🙄. I apologize, one more question: so what do the fraud department do🤨?
Honestly this is concerning but, the opposite from my experience. I had a piece of fraud around 2012-2013 and they called and resolved it for me. $800 dollar worth of transfers. Nothing like that since...
Thats terrible! And I was just getting ready to move my banking to USAA! NOT ANYMORE!!
I had this happen at 2 other banks before banking at USAA. I lost 10 of thousands of dollars with other banks. They refused to do anything. This is disheartening to hear it is now what USAA is doing to their members
So glad we quit USAA a few months ago! The banking customer service reps knew ABSOLUTELY NOTHING and had to LOOK UP THE ANSWER TO EVERY SINGLE QUESTION-we got REAL TIRED of dealing with clueless people. And now that Powell has said that smaller regional banks will be going bankrupt, there’s no doubt that USAA will be down for the count!! Good bye and good riddance.
Yes !! Where did you go ? I'm switching to Navy FederalCredit Union
One of the best local news report for a long time
Nowadays banks suck. Avoid them. Use a local credit union in the town where you live. If a problem arises you can go there and speak with them face to face. The satisfying part is them knowing who your are when you walk through the door.
Thanks for helping these people, and shining 🌟 a light 🚨.
I attempted to join USAA once about 10 yrs ago. I was told that I already had an account and wanted copies of my DD214 and ID, SSN...to prove that I, was me. I knew then they could not be trusted. I should call again to see how much money I still have in that fake account if it ever existed.
First I have heard of this. I lost lots through fraud last year as a USAA member! At first they helped me but they ended up blaming me. I no longer bank there. Thanks for this report. Did not know there were problems on the insurance side too. It’s bad when the press has to solve USAA’s problem.
Dang this is crazy. I’ve always heard great things about USAA. Good to get the warning. These financial institutions are scary
This happened to my future daughter in law by this bank. She got the same treatment also. Glad I dropped them years ago.
I have USAA, but thank the Lord I don't use them for anything. That's absolutely so sad that they would do their members like that.
IF you go to the BB this is happening to most banks TBH, not just USAA. I searched up Bank of AMerica, US Bank and 3 others they all have the same ratings of 1/5 and thousands of complaints.
Good investigation and thanks for helping our vets.
When I switched insurance carriers a few years back, the vaguely worded, ominous letters they sent, threatening some nebulous legal action because I didn't cancel with the proper protocol; seemed fairly deranged, not the helpful company from 20 years ago.
I could write a book on them...following my son's death...I just wonder how they treat young, newly bereaved widows.