(Source: Business Wire)
U.S. Bank, N.A., will accept from current customers registered warrants issued by the State of California for a limited time starting on July 2, 2009 and ending no later than July 10, 2009. The warrants will only be accepted for deposit into a U.S. Bank account. U.S. Bank has 559 offices throughout California.
"These are unprecedented times that require extraordinary support for our customers. As a result of these circumstances, we will accept these registered warrants for a limited time with the expectation that the state's budget issues are resolved in the near future," said Joseph Otting, vice chairman of commercial banking at U.S. Bancorp who is based in Los Angeles.
This accommodation for clients will not include correspondent banks, money service businesses or any client engaged in purchasing or consolidating registered warrants for deposit.
U.S. Bank is the 6th largest bank in California by deposits, and 4th largest by branches.
U.S. Bancorp (NYSE: USB), with $264 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,847 banking offices and 5,183 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.
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