On Dec. 18, 2024, the Office of the Comptroller of the Currency (OCC) issued USAA Bank a new consent order. It outlines requirements to advance the Bank's risk and compliance management to the level we and our regulators expect. Although our progress has not been consistent or swift enough, the Bank is well-positioned to complete this work. With a stronger foundation in place to prevent and mitigate risk, we will continue to enhance our capabilities and processes to ensure we consistently serve our members with excellence. The order also confirms progress we have made on our Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program and closes the 2022 consent order.
Moving forward, our path is clear. Managing risk effectively and operating in a compliant fashion are the foundation of serving our members and delivering on our mission. We continue to identify and resolve issues while strengthening the rigor of our programs and processes. We also are investing in additional systems and training while reinforcing the behaviors of a strong risk management culture. We will get this right, and the result will be a stronger USAA for our members.