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Herman Jones LLP Announces Investigation for Investors in U.S. Bancorp

Herman Jones LLP is Investigating Claims for Investors Who May Have Been Harmed by U.S. Bank National Association’s Opening Unauthorized Customer Accounts

ATLANTA, GEORGIA, UNITED STATES, July 29, 2022 /EINPresswire.com/ -- The Consumer Financial Protection Bureau (“CFPB”) commenced an investigation into U.S. Bancorp regarding its consumer sales practices, which investigation is further described in the March 31, 2021 10-Q of U.S. Bancorp, filed with the Securities and Exchange Commission on May 4, 2021. The CFPB filed an administrative proceeding, styled In the Matter of U.S. Bank National Association (File No. 2022-CFPB-0006), against U.S. Bank National Association (“U.S. Bank”), the subsidiary of bank holding company U.S. Bancorp. The CFPB alleged that U.S. Bank illegally accessed its customers’ credit reports and opened accounts and lines of credit without customers’ permission. Through a Consent Order entered on July 28, 2022, the CFBP has fined U.S. Bank $37.5 million, to be paid to consumers who were harmed by U.S. Bank’s violations of federal consumer financial protection law. U.S. Bank must also return all improperly charged fees to its customers, with interest.

Herman Jones LLP (www.hermanjones.com) is investigating potential claims on behalf of U.S. Bancorp (NYSE: USB) against certain of its officers and directors relating to the allegations set forth in the administrative proceeding.

IF YOU HAVE CONTINUOUSLY OWNED U.S. BANCORP SHARES SINCE MAY 2021 AND WOULD LIKE TO BE INVOLVED, PLEASE CONTACT HERMAN JONES LLP AT THE CONTACT INFORMATION BELOW.

IF YOU ARE A CURRENT HOLDER OF U.S. BANCORP SHARES AND YOU HAVE CONTINUOUSLY HELD SINCE AT LEAST MAY 2021, you may have standing to hold U.S. Bancorp harmless from the alleged harm caused by the Company's officers and directors by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to assure compliance and prevent future wrongdoing.

IF YOU ARE INTERESTED IN LEARNING MORE ABOUT THE INVESTIGATION, PLEASE CONTACT US AT THE INFORMATION BELOW. IF EMAILING, PLEASE INCLUDE A PHONE NUMBER.

ABOUT HERMAN JONES LLP:

Herman Jones LLP (www.hermanjones.com) is a nationally recognized high stakes litigation law firm with offices in Atlanta, Newark and Seattle. Herman Jones LLP represents individual and institutional investors in shareholder derivative and securities class action lawsuits, in addition to antitrust, intellectual property, consumer class actions and venture fund transactional work. Herman Jones LLP regularly assists clients in recovering losses resulting from violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.hermanjones.com. Attorney advertising. Past results do not guarantee future outcomes.

John Herman
Herman Jones LLP
+1 404-504-6500
hjadmin@hermanjones.com
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