USAA announces Lieutenant General (Retired) David F. Melcher as Chairman of the board. Longtime USAA Board Director succeeds outgoing Chairman Vice Admiral (Retired) James M. Zortman following years of leadership and service to USAA New Chairman of the USAA Board of Directors Lieutenant General (Retired) David F. Melcher, U.S. Army SAN ANTONIO-(BUSINESS WIRE)-USAA today announced Lieutenant General David F. Melcher, U.S. Army (Retired), has been named Chairman of the USAA Board of Directors, succeeding Vice Admiral, U.S. Navy (Retired) James M. Zortman as part of a planned leadership transition. In the military, a change of command marks both an ending and a beginning. It is a moment to recognize the leaders who carried the responsibility of command while entrusting that responsibility to the leader who will carry it forward. For USAA, a company founded by 25 soldiers and built to serve the military community, the transition reflects that same tradition of stewardship and service. Zortman concludes his tenure as Chairman after having served on the USAA Board of Directors since 2013 and as Chairman since 2021. A longstanding USAA member for 54 years, his service to the Association has spanned a period of transformation. As Chairman, he helped provide oversight as USAA strengthened its financial and operational foundation, navigated a rapidly changing insurance and financial services environment and sharpened its focus on delivering for members. "This is an important moment for USAA, and one that comes with a great deal of gratitude," said Juan C. Andrade, President and CEO of USAA. "Vice Admiral Zortman has given so much to this Association. His steady leadership, judgment and commitment to our members have helped guide us through periods of considerable change, and we are stronger because of it. Lieutenant General Melcher is the right leader to build on that progress. He knows USAA, understands our members and brings tremendous experience and perspective to the role. I look forward to working with him as we continue strengthening USAA, delivering for our members and positioning the Association for what comes next." Melcher assumes the Chairman role after nearly seven years of service on the USAA Board, most recently as Vice Chairman. During that time, he has helped oversee the Association's strategy and shape its direction. "I am proud to serve as Chairman of an Association that has meant so much to me and my family for more than five decades," said Melcher. I have seen firsthand what this Association means to the military families we serve. I look forward to working with my fellow directors, Juan and the USAA team to build on the progress underway, keep our members at the center of our decisions and ensure USAA continues earning their trust every day." Melcher served more than three decades in the U.S. Army before holding senior leadership roles in the private sector. He also brings extensive corporate governance experience, having served in board leadership roles across the defense, aerospace and health care industries. He has remained actively involved in the military community through his work with nonprofit organizations supporting service members, veterans and their families. Melcher has also been a USAA member for more than 51 years, giving him both a personal connection to the Association and a deep understanding of the responsibility USAA carries for its members. A graduate of the U.S. Military Academy at West Point, Melcher holds a Master of Business Administration from Harvard Business School and a Master of Public Administration from Shippensburg University. About USAA Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and retirement solutions and serves more than 14.5 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in seven U.S. cities and four overseas locations and employs more than 36,000 people worldwide. Each year, USAA supports national and local nonprofits serving military families and communities. With Honor Through Action, USAA advances policy, advocacy and philanthropy to support financial security, build meaningful careers and promote overall well-being across the military community. For more information about USAA, follow us on Facebook or X (@usaa), or visit usaa.com.

Fifth Third latest target in USAA's patent war with banks. Fifth Third faces a patent infringement lawsuit from USAA over mobile deposit technology, following a string of high-profile legal victories. Curated by Financing Your Way from original reporting by American Banker - Top News. Summary is AI-assisted and editorially reviewed - see its editorial standards. Fifth Third Bank is the latest major financial institution caught in a long-standing legal battle over mobile check deposit technology. USAA has filed a lawsuit claiming the bank infringed on four specific patents related to capturing check images via smartphones. This is part of a much broader campaign by USAA, which has already successfully extracted hundreds of millions of dollars in settlements and jury awards from giants like Wells Fargo and PNC. Fifth Third is fighting back by asking the patent office to invalidate the claims, but history suggests these cases often lead to significant payouts or licensing changes. For retailers and operators, this news highlights the hidden risks in the fintech tools you use every day. While you likely aren't being sued directly, the technology that powers your point-of-sale financing, instant disbursements, and mobile payments is often built on a web of proprietary patents. When banks face massive legal costs or are forced to pay licensing fees for basic features like mobile deposits, those costs eventually trickle down to merchants through higher processing fees or changes in service terms. It also serves as a reminder that even 'standard' industry tech can be subject to sudden legal challenges that disrupt how money moves through your business. Who else is covering this

Elevations Credit Union names 2 new execs. BOULDER - Two new executives have joined Elevations Credit Union. Veronica Riojas, formerly a senior vice president overseeing the Boulder-based credit union's retail network and member experience, has been promoted to chief retail officer, in charge of branches, the contact center, digital banking, and wealth management. Meanwhile, Deron Streitenberger will become chief information officer at Elevations, leading its technology strategy including cybersecurity and digital infrastructure. "Veronica is not only a champion of our members but a fervent advocate of our employees and culture," Michael Calcote, Elevations' president and CEO, said in a prepared statement. "Her authenticity and genuine care for members and employees alike have been instrumental in cultivating the vibrant culture of the teams she leads." Sponsored Content Before joining Elevations in 2022, Riojas spent 15 years with USAA, where she served as bank omnichannel director. In that role, she led cross-functional teams supporting members through integrated service solutions and helped drive improvements in member satisfaction by translating member feedback into product and process enhancements. "I'm honored to step into this role and continue serving our members, employees and communities," Riojas said in a news release. "What inspires me most about Elevations is the commitment our teams bring every day to helping people achieve their financial goals. I look forward to building on that foundation as we continue evolving and enhancing the experiences we provide." Streitenberger "brings a strong belief that great technology organizations succeed when they build trust, develop talent and stay closely connected to the needs of the business and the members they serve," Calcote said. "Throughout his career, he has built a reputation for advancing digital capabilities and helping organizations leverage technology to achieve strategic goals." Streitenberger joins Elevations after more than a decade with the Federal Home Loan Bank of Indianapolis, where he served as chief information officer before being promoted to chief business operations officer. He has also held technology and operations leadership positions with Republic Mortgage Insurance Co., JPMorgan/Chase and the Bank for International Settlements in Basel, Switzerland. "I'm excited to join an organization that is deeply committed to its members, employees and communities," Streitenberger said in a prepared statement. "Technology plays an increasingly important role in helping financial institutions deliver value, strengthen security and create meaningful experiences. I look forward to working with the team at Elevations to continue advancing those efforts." Veronica Riojas has been promoted to chief retail officer and Deron Streitenberger will become chief information officer at Elevations. Already have a paid subscription?