Compiled from Public Data by FairShake
The US government’s Consumer Financial Protection Bureau (CFPB) collects complaints against financial companies.
In 2019, the CFPB received 1354 complaints against USAA. USAA ranked Number 23 among all financial companies for the most complaints.
Date of Complaint: November 4, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: NV
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 2, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: NC
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Charged fees or interest you didn’t expect
Full Complaint:
I have a personal loan with USSA Federal savings bank, account number XXXX where I currently pay about XXXX per month. But they charge interest to where the loan amount accrues XXXX dollars per day. I did not know this until after I got the loan. I got the personal loan one year ago and the loan amount was {000.00}. After making monthly payments on the loan I noticed that the loan amount went back up a XXXX dollars per day. I then called USAA about this and the lady told me that the loan does accrue XXXX dollars per day. I think this is crazy and predatory. They also refuse to refuse to get the late payment from my credit report concerning my personal loan. I fell on hard times and I am a XXXX veteran and get XXXX at times and XXXX and XXXX and I dont feel like taking forever to pay this loan back.
Complaint Tags: Servicemember
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 4, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: AK
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Overdrafts and overdraft fees
Full Complaint:
On XX/XX/19 I chatted online with USAA agents about my pay check being deposited in to a checking that USAA closed for overdraft. I asked what options I had to get my funds. The agent told me in the chat that if I paid the over draft now out of my active checking account I could have my direct deposit after 3 days. I paid the over draft out of my active checking account I had with USAA and once again the agent told me 3 days I would be able to have my pay check deposited in to my active checking account. This was confirmed by 3 other agents all in chats. When the day came on XX/XX/19 for me to get my funds back I was told that all those agents had given me false information and that I agreed to this process when I first got the account. I asked for a copy of that disclosure on XX/XX/19 and still have not received it. USAA is telling me 10-20 days for them to release my funds. Because of this I have late fees on other bills and rent. I have also lost 40 hours of work and will now have to pay for a class out of pocket. When I told USAA that agents all told me that I would get my funds back after 3 days they just told me that they system wont allow them to do that. USAA stated that they know this is a bank error but don’t want to do anything to make up for it. USAA sticks to the system having the issue. When trying to reach out to my customer advocate about this issue and that USAA is violating the law she does not return my phone calls. I believe that USAA used any means they could to collect on money that was owed. The means that they used was very deceptive and a lie. I have asked everyday since XX/XX/19 for my money back as well as the disclosure but USAA still refuses to do anything about it stating that it is policy. USAA hasn’t even asked me what they can do to make this right after I get my money back. I explained to them that this caused me to take a week off work because the original agent said all I had to do was call to get my money. I called while I was on a break from a class that I was taking the you can’t miss anytime in and that short phone call turned in to 7 hours on the phone with USAA.
Complaint Tags: Servicemember
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 4, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: TX
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-Issue: Problem with convenience check
Full Complaint:
I received an offer for 0 % APR on a convenience check from USAA that I was going to use but wording in the offer appeared to be in direct violation of CFR 12 part 1026 so I called USAA to clarify.
The following is the concerning statement : ” If you transfer a balance or write a convenience check with this offer, all purchases will be charged interest until you pay the entire balance in full, including any transferred/convenience check balances. ” The regulation is very clear that anything over the minimum payment must be applied to the highest interest APR, however, three different USAA representatives told me that is not the case.
I gave the following example : I write a convenience check for {00.00} subject to 0 % APR I charge {0.00} subject to 10 % APR My minimum payment is {.00} I am charged {.00} interest on this billing cycle I stated that if I paid {0.00} then {.00} can be allocated to whichever balance they choose and that {0.00} must be applied to the {0.00} dollar charge and {.00} interest first and the rest would go to the 0 % APR balance. If I made no further charges then my next bill should have no purchase or fee balance and I should only be left with the 0 % APR balance if they are following the law.
All three USAA representatives said this is not the case and that even if I paid {0.00} that a portion would go to the higher APR balance and fees and that some would go to the 0 % APR balance but that my {0.00} payment would not pay the purchase balance in full and that my next bill would still have a purchase balance remaining and that I would still be charged interest on that balance.
This is a clear violation of the wording and the intent of 12 CFR 1026.53. I kept asking to speak to different people because I thought there was no way that USAA was so blatantly violating the law but after getting the same response from two normal customer service reps and a rep that specializes in USAA billing policies, it is apparent that they are.
I am filing this complaint so that you can investigate their credit card payment allocation practices to determine if USAA is in compliance with regulations.
Complaint Tags: Servicemember
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 4, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: AZ
Product: Checking or savings account
Sub-Product: Checking account
Issue: Closing an account
Sub-Issue: Company closed your account
Complaint Tags: Servicemember
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 1, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: WA
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
Full Complaint:
My name is XXXX XXXX. On XX/XX/2019, I submitted a money transfer inadvertently to my ex-wife ‘s account. I immediately called USAA and tried to reverse the payment. As it was a USAA to USAA money transfer, the representative stated he could not cancel or retrieve the payment. I informed the representative, that this was to my ex-wife and we are not on amicable terms. I asked if he could reach out to her and request the transfer be reversed. He refused and stated even though it was a mistake it has been done. I then asked to speak the executive resolution team. After being on hold for 20 minutes, I was told they are busy and they would return my call later. As I work abroad, this was cumbersome at the least. After the call, I completed some research about whether I my ex-wife could keep the funds from the transfer and the banks responsibility. The bank is required to be your advocate and attempt to reach the other party to see if the party will release the funds. As of now, USAA has done nothing to assist and has failed to be helpful at all. For anyone else in this predicament, you have legal rights to obtain your funds for inadvertent fund transfers. The key to a return without legal intervention is for your bank to be proactive and advocate for you. Additionally, this is needed as proof if the other party refuses to return your funds. I am truly disappointed in USAA in this matter. I have been a faithful member for almost 20 years. I would assume the loyalty in itself would mandate at least a letter or call from the institution to the other party. I will be looking for other banking institutions that treat their members better.
Complaint Tags: Servicemember
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 1, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: CA
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 4, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: AZ
Product: Mortgage
Sub-Product: VA mortgage
Issue: Closing on a mortgage
Full Complaint:
Attempted to complete a VA Streamline IRRRL refinance for my home property. After receiving approval for the loan they provided disclosures with the new loan estimates and charges. I saw there was not a VA funding fee associated for VA home loans. I asked, deliberately, about the absence of this charge. The representative stated USAA were exempt of this charge by the Veterans Administration and did not have to apply this charge to its members, creating incentive for myself to pursue this loan. I asked again to confirm and the USAA representative went to confirm that this was valid by confirmation of her colleague and her direct manager. They also acknowledged this exemption to be true. As we approached closing, I did not receive final disclosures, which is not typical. I attempted to reach the processor who had been servicing me thus far, and she was not available. On her VM, she directed calls to another representative as she was out of office during the week. I could not reach said representative or a manager. This was XX/XX/XXXX. Closing was the next day XX/XX/XXXX. I did not receive a call back or any feedback prior to the notary coming. Upon signing I noticed more discrepencies and the notary informed me I have 5 days to cancel the transaction. For the time being I completed the signing and intended to correct or rectify the situation. During signing, I viewed new unpreviouslydisclosed charges ( One being VA Funding Fee ), improper deed recording information, and other concerning relevant transaction details. I again attempted to contact USAA the next business day XX/XX/XXXX, this morning, but a manager or the previous processors were not available. I feel a compliant is most appropriate given what has transpired.
Complaint Tags: Servicemember
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 4, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: CO
Product: Checking or savings account
Sub-Product: Savings account
Issue: Closing an account
Sub-Issue: Company closed your account
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: November 2, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account information incorrect
Full Complaint:
I contacted USAA on XX/XX/XXXX to discuss a late payment showing on my account from XX/XX/XXXX. I was informed that there was no information showing it was late. I requested the 30 day late to be removed by USAA and Bureaus and it is still showing
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
FairShake accessed this complaint from the public archives of the Consumer Financial Protection Bureau (CFPB). You can file your own complaint with the CFPB here.