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BUSINESS
September 3, 2003 | From Bloomberg News
U.S. Bancorp, the eighth-biggest U.S. bank by assets, will open 163 branches in Safeway Inc. stores, including Vons, in the next two years to increase the bank's presence in California and Arizona. The new outlets would boost U.S. Bancorp's in-store branch network by one-third to 446, the bank said. Most of the branches will be in Sacramento, San Diego, San Francisco and Los Angeles. The remainder will be in Phoenix and Tucson. U.S. Bancorp shares rose 22 cents to $24.12 on the NYSE.
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BUSINESS
September 26, 2012 | By Andrew Tangel
U.S. Bancorp is the next major financial institution supposed to be targeted by a hacking group that has disrupted banks' online operations over the last two works. U.S. Bancorp is aware of the hacking group's stated plans to attack its website Wednesday, following its attack on Wells Fargo's online and mobile banking operations Tuesday, spokesman Tom Joyce said. "We're working very closely with law enforcement authorities on the issue," said Joyce, who declined to elaborate.  Recent cyber attacks have hit Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. The so-called denial of service attacks involve bombarding the bank's servers, causing them to slow down or seize up. Minneapolis-based U.S. Bancorp is the eighth-largest bank holding company by assets, according to Federal Reserve data.
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BUSINESS
February 6, 2001 | Associated Press
The Justice Department approved the merger of Firstar Corp. with US Bancorp into the nation's eighth-largest bank after the banks agreed to sell 13 branches with $756 million in deposits in Minnesota and Iowa. With the sale, the Justice Department's antitrust division will raise no objection to the required final approval of the deal by the Federal Reserve System's board of governors. Firstar agreed to sell 11 branches in the Minneapolis-St.
BUSINESS
September 26, 2012 | By Andrew Tangel
U.S. Bancorp customers are experiencing intermittent delays with the institution's website and online operations, spokesman Tom Joyce said. The site has not been taken down. The Minneapolis bank was experiencing unusually high Web traffic and coordinated attacks “very similar” to what other major banks have experienced over the last two weeks, he said. Wells Fargo & Co.'s website was attacked Tuesday. “We are working very closely with federal law enforcement,” Joyce said.
BUSINESS
May 8, 2001 | Reuters
Midwest regional bank U.S. Bancorp agreed to buy credit card payment-services provider Nova Corp. for $2.1 billion in cash and stock. The combined company would process more than $100 billion in payments in 2001, cementing its position as the third-largest merchant payment processor in the U.S. Under the agreement, shareholders of Atlanta-based Nova can receive either 1.407 shares of U.S. Bancorp stock or $31 in cash for each of their shares, U.S. Bancorp said.
BUSINESS
June 10, 1999 | From Bloomberg News
U.S. Bancorp violated federal and state consumer protection laws by providing customers' financial information to a telemarketing firm, the Minnesota attorney general's office alleges in a lawsuit. The suit, filed by Minnesota Atty. Gen. Mike Hatch, alleges that U.S. Bank, the country's 13th-largest bank and a unit of Minneapolis-based U.S. Bancorp, sold information on more than 900,000 bank and credit card customers to a telemarketing company for $4 million plus commissions.
BUSINESS
September 3, 1999 | Bridge News
Minneapolis-based US Bancorp, the nation's 13th-largest commercial bank, agreed to buy Peninsula Bank of San Diego for stock worth about $104 million, adding $456 million in assets and 11 branches in San Diego County. The transaction builds on US Bancorp's 98 branches in Southern California, as well as corporate trust and leasing offices in Los Angeles and San Francisco.
BUSINESS
July 1, 1999
* U.S. Bancorp of Minneapolis said it will pay $3 million to settle claims by the Minnesota attorney general that it violated federal and state consumer protection laws by providing customers' financial information to a telemarketing firm. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at http://www.latimes.com/bizstaff.
BUSINESS
September 26, 2012 | By Andrew Tangel
U.S. Bancorp customers are experiencing intermittent delays with the institution's website and online operations, spokesman Tom Joyce said. The site has not been taken down. The Minneapolis bank was experiencing unusually high Web traffic and coordinated attacks “very similar” to what other major banks have experienced over the last two weeks, he said. Wells Fargo & Co.'s website was attacked Tuesday. “We are working very closely with federal law enforcement,” Joyce said.
BUSINESS
April 14, 2005 | From Bloomberg News
U.S. Bancorp, the sixth-biggest U.S. bank, will install 333 automated teller machines at Walgreen Co. stores in California and Nevada to expand in the West. Minneapolis-based U.S. Bancorp said its U.S. Bank subsidiary would install 312 ATMs in California and 21 in Nevada. U.S. Bancorp will about double its ATMs in California to 684, and will boost its ATMs in Nevada to 119. The bank has 306 branches in California and 40 in Nevada.
BUSINESS
September 15, 2010 | By Nathaniel Popper, Los Angeles Times
People who pay high fees to borrow from so-called payday lenders generally don't have bank accounts, but that doesn't mean banks aren't making money from them. Major banks led by Wells Fargo & Co., US Bancorp and JPMorgan Chase & Co. provide more than $2.5 billion in credit to large payday lenders, researchers at the Public Accountability Initiative estimate in a report released Tuesday. The financing provides vital support for an industry criticized for charging effective annual interest rates that can top 400%, the researchers said.
BUSINESS
January 20, 2010 | By Nathaniel Popper
Wall Street may be drawing attention for its rebounding profits, but not all big banks are rolling in dough. On Tuesday, Citigroup posted a $7.6-billion loss for the last three months of 2009, the banking giant's first unprofitable quarter since 2008. Similar bad news is expected today when Bank of America Inc., Wells Fargo & Co. and U.S. Bancorp report their earnings. Although these commercial banks may have substantial Wall Street operations, they rely heavily on bread-and-butter consumer lending -- a business whose problems only now may be peaking along with the joblessness and other financial woes of ordinary Americans.
BUSINESS
October 31, 2009 | E. Scott Reckard
Regulators seized Los Angeles-based California National Bank on Friday night in the country's fourth-largest bank failure this year. The 68-branch bank, a unit of FBOP Corp., was immediately acquired by the U.S. Bank unit of Minneapolis-based U.S. Bancorp, with no losses to be incurred by depositors, the Federal Deposit Insurance Corp. said. The branches, mostly in Los Angeles and Orange counties, were set to reopen as usual Saturday or Monday as branches of U.S. Bank, which has been expanding rapidly in Southern California.
BUSINESS
November 25, 2008 | E. Scott Reckard nd Tiffany Hsu, Reckard and Hsu are Times staff writers.
U.S. Bancorp's weekend takeovers of failed Downey Savings & Loan and PFF Bank appear to have gone smoothly for customers and bank employees, a contrast to July's collapse of IndyMac Bank. Federal regulators, who seized the two Southern California thrifts Friday night, already had lined up U.S. Bancorp as the new owner. U.S. Bancorp pledged to honor all deposits, including uninsured funds, and said it would not close any branches. On Monday, the branches opened for business as usual, and customers took the change in stride.
BUSINESS
December 15, 2007 | From the Associated Press
A jury has ordered U.S. Bancorp to pay $17.6 million in a civil lawsuit brought by the trustee overseeing the bankruptcy of a company that defrauded investors out of $45 million. The Orange County Superior Court jury concluded last week that the bank should have known about fraudulent accounts that it opened for operators of Newport Beach-based DFJ Italia Ltd. Seven people have pleaded guilty to federal charges stemming from the financial scam, which ran from 1996 to 2000.
BUSINESS
January 17, 2007 | From the Associated Press
Wells Fargo & Co. fattened its profit margins and pocketed more customer service fees to boost its fourth-quarter earnings 13%, while U.S. Bancorp lowered its problem loans and expenses to eke out a modest improvement. The results released Tuesday provided investors with their first look at how the nation's biggest banks fared during the final three months of 2006 -- a period in which the U.S.
BUSINESS
November 17, 1999 | Dow Jones
U.S. Bancorp said Tuesday it completed its acquisition of Western Bancorp in Newport Beach for $1.04 billion in stock. The Minneapolis banking company said Western Bancorp branches should change their signs over to U.S. Bank signs and change computer systems in the first quarter. Shares of U.S. Bancorp closed Tuesday at $37.63, up 6 cents a share on the New York Stock Exchange. Western Bancorp shares closed Monday in Nasdaq trading at $48.50 a share, up $1.
BUSINESS
June 10, 1998 | Reuters
Minneapolis-based U.S. Bancorp said it will repurchase up to $2.5 billion worth of its shares, adding that it also plans to explore acquisitions that "make sense." The repurchase announcement came a day after cross-town rival bank Norwest Corp. said it would merge with San Francisco-based Wells Fargo & Co. U.S. Bancorp is widely believed by the financial community to have been interested in a deal with Wells. U.S.
BUSINESS
April 11, 2006 | From Reuters
The California Public Employees' Retirement System said Monday that it endorsed a proposal to require U.S. Bancorp to give shareholders a say in how the firm pays top executives. CalPERS, the largest U.S. pension fund, with $207 billion in assets, announced its support several weeks after the Minneapolis-based bank's chief executive, Jerry Grundhofer, mailed shareholders an unusual letter urging rejection of the proposal. U.S.
BUSINESS
April 14, 2005 | From Bloomberg News
U.S. Bancorp, the sixth-biggest U.S. bank, will install 333 automated teller machines at Walgreen Co. stores in California and Nevada to expand in the West. Minneapolis-based U.S. Bancorp said its U.S. Bank subsidiary would install 312 ATMs in California and 21 in Nevada. U.S. Bancorp will about double its ATMs in California to 684, and will boost its ATMs in Nevada to 119. The bank has 306 branches in California and 40 in Nevada.
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