Conservative Economic Commentary

Subject: US Bancorp

U.S. Bancorp is a financial services holding company, headquartered in Minneapolis, Minnesota. It is the parent company of US Bank, the sixth-largest commercial bank in the United States as of December 31, 2009. With 3,015 offices and 5,148 ATMs, US Bank serves 25 states. U.S. Bancorp offers regional consumer and business banking and wealth management services, national wholesale and trust services and global payments services to more than 15.8 million customers. The company employs over 60,000 people.
U.S. Bank National Association (US Bank) is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury. (Wikipedia Feb 2010)

Good and bad banks

Bank stress tests: aftermath and consequences

By John Schroy, on May 8th, 2009 |

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In May 2009, the Obama administration divided some of America’s largest banks into ‘good banks’ and ‘bad banks’.

This broke a long-standing practice of protecting the reputation of the US banking system. The Obama government seized TARP funds as an instrument of political power.

Banks, large and small, are now eager to escape the trap of taking TARP funds, which will require them to raise $74.6 billion, either by selling equities on the market, or from profits.

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