U.S. Bancorp - USB STOCK NEWS

U.S. Bancorp and Mitsubishi UFJ Financial Group (MUFG) have agreed to extend the termination date of their acquisition deal for MUFG Union Bank's regional banking franchise to December 31, 2022. Both companies are actively pursuing regulatory approvals and planning for the transaction's integration.

This acquisition will strengthen U.S. Bank's market presence, enhance customer service, and support low-income communities, backed by a $100 billion community benefits plan. The deal is significant for both institutions as they work towards closing the transaction in the second half of 2022.

The Board of Directors of U.S. Bancorp has declared a quarterly dividend of $0.48 per share, payable on October 17, 2022, to stockholders of record as of September 30, 2022. This dividend marks a 4.3% increase from the previous dividend of $0.46, bringing the annual total to $1.92 per share. Additional dividends were also declared for various series of preferred stocks, all payable on the same date to shareholders of record.

Elavon Merchant Services has announced an enhancement to its Transaction Risk Analysis (TRA) solution, allowing Strong Customer Authentication (SCA) exemptions for low-risk transactions up to €500, which is above the industry standard of €100-250. This change is projected to increase transaction approval rates by 3.5% over the industry average of 88%. Major retailers like Puma have reported significant improvements in approval rates, with some soaring to 100%. The TRA solution aims to reduce cart abandonment while maintaining security in e-commerce.

U.S. Bancorp (NYSE: USB) announced that Chairman and CEO Andy Cecere and Vice Chair and CFO Terry Dolan will present at the Barclays Global Financial Services Conference in New York on September 12 at 8:15 a.m. ET. A live audio webcast will be accessible on the U.S. Bank Investor Relations website, with a replay available for one year. U.S. Bancorp, based in Minneapolis, has approximately 70,000 employees and $591 billion in assets as of June 30, 2022, serving customers through diverse financial services.

U.S. Bank has announced a strategic collaboration with Opendorse to enhance financial literacy among over 80,000 student-athletes in the wake of new NCAA NIL policies. The program, called U.S. Bank Financial Fitness, aims to educate athletes on budgeting, tax management, and wealth creation. Opendorse CEO Blake Lawrence emphasized the importance of financial education for athletes navigating new revenue streams. The partnership will provide digital access to financial resources, with initial content focusing on essential financial concepts.

U.S. Bank has launched a new real-time payment solution for auto dealers, allowing them to receive funds instantly after loan finalization. Following a successful pilot in June, over 800 dealers have begun utilizing this service, enhancing cash flow management and operational efficiency. Unlike traditional ACH transactions that can take days, this solution offers funding seven days a week. The bank aims to expand this service further, meeting the growing interest among dealers for faster financing options.

U.S. Bancorp has raised its prime lending rate from 4.75% to 5.50%, effective July 28, 2022, across all U.S. Bank locations. This decision reflects the company's ongoing adjustments to market conditions. As of June 30, 2022, U.S. Bancorp operates with approximately 70,000 employees and manages $591 billion in assets. The company is recognized for its commitment to digital innovation and customer service, having been named one of the 2022 World’s Most Ethical Companies.

U.S. Bancorp reported its Q2 2022 results, emphasizing a commitment to digital innovation and customer service. The company, which has approximately 70,000 employees and $587 billion in assets, operates diverse businesses including Consumer Banking and Wealth Management. Chairman and CEO Andy Cecere, along with CFO Terry Dolan, will discuss the financial results in a conference call available online. U.S. Bancorp has been recognized as one of the 2022 World’s Most Ethical Companies and remains a trusted institution in the financial sector.

U.S. Bancorp (NYSE: USB) announced the results of the Federal Reserve’s Dodd-Frank Act Stress Test, indicating a preliminary stress capital buffer of 2.5% for the period from October 1, 2022, to September 30, 2023. The company's Common Equity Tier 1 (CET1) ratio stood at 9.8% as of March 31, 2022, well above the 7% requirement. Additional capital distributions will be determined post-acquisition of MUFG Union Bank's core banking franchise. The stress test results affirm U.S. Bancorp's preparedness for economic downturns, highlighting its diversified business model and risk management strategies.