U.S. Bank Warns Federal Probes Into Debanking Policies Could Trigger Legal Action
U.S. Bancorp said it is fully cooperating with pending examinations, inquiries, and investigations that could result in administrative or legal proceedings or settlements. The bank warned investors that federal agencies’ probes into debanking activity and lenders’ policies could bring consequences, amid related lawsuits and executive-order-directed reviews of “fair access to banking.”