AP NEWS

U.S. Bancorp Announces OCC’s Termination of AML-Related Consent Order

December 21, 2018

MINNEAPOLIS--(BUSINESS WIRE)--Dec 21, 2018--U.S. Bancorp (NYSE: USB) today announced that the Office of the Comptroller of the Currency (OCC) has terminated its 2015 consent order related to the company’s Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) program and controls.

Since 2014, U.S. Bancorp has made significant investments to improve and strengthen its AML and BSA controls, including a new AML and BSA leadership team as well as improved and enhanced processes and systems.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with 74,000 employees and $465 billion in assets as of September 30, 2018, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2018 World’s Most Ethical Company. Visit U.S. Bank at www.usbank.com or follow on social media to stay up to date with company news.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181221005363/en/

CONTACT: Dana Ripley, U.S. Bank Public Affairs & Communications

Dana.ripley@usbank.com| 612.303.3167Jen Thompson, U.S. Bank Investor Relations

Jen.thompson@usbank.com| 612.303.0778

KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: U.S. Bancorp

Copyright Business Wire 2018.

PUB: 12/21/2018 11:10 AM/DISC: 12/21/2018 11:10 AM

http://www.businesswire.com/news/home/20181221005363/en

AP RADIO
Update hourly