U.S. Bancorp

Outsourcing PPP, stress-test fallout, SCOTUS’ CFPB ruling: Top stories of the week

07/02/20

As PPP enters forgiveness phase, some banks see outsourcing as best move; after the Fed’s stress tests, Wells Fargo to cut dividend while other big banks boost capital buffer; Supreme Court strikes down CFPB leadership structure; and more from this week’s most-read stories.

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U.S. Bancorp reshuffles corporate and commercial leadership

06/29/20

The company announced a slate of changes on Monday that includes the creation of a new position overseeing strategy for corporate and commercial banking.

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PNC pledges $1 billion to fight racism

06/18/20

The Pittsburgh-based company said the funds will be used to support community development, minority-owned businesses and charitable organizations that work to promote social justice.

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Big banks cling to branch expansion plans despite coronavirus shock

06/15/20

Executives argue the rollouts will largely focus on new markets and work in tandem with digital banking efforts.

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How long will banks have to keep padding loan-loss reserves?

06/11/20

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

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U.S. Bancorp pledges $116 million to address racial inequality

06/05/20

As part of its commitment, the Minneapolis company said it will provide $100 million in capital to African American owned and operated businesses and organizations.

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Big-bank execs condemn racism after George Floyd death

05/30/20

The chiefs of some of the biggest U.S. banks called on their workers to fight racism after an unarmed black man died as a result of a white police officer kneeling on his neck, prompting nationwide protests.

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U.S. Bancorp could step up branch closings post-COVID

05/28/20

Customers' increased use of digital channels during the pandemic could compel the Minneapolis company to rethink its branch strategy, CEO Andy Cecere said.

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Banks tore up digital scripts once pandemic hit

05/12/20

U.S. Bancorp, Wells Fargo, WSFS and others were already deeply engaged in digital transformations before the coronavirus crisis led them to pivot — quickly.

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Wells Fargo, JPMorgan among banks sued over aid to small businesses

04/20/20

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

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