About
Important information
- Additional Info:
According to US Bank anyone who has received a card for unemployment benefits that they did not apply for should destroy the card, report it on the ReliaCard website (usbankreliacard.com), notify the state unemployment agency that paid the unemployment benefits of potential fraud, and take precautions to mitigate the risks of potential identity theft. The determination of unemployment benefit claims approval and to whom ReliaCards are issued resides with the state.
Call 800-US BANKS or find specific customer service department listings by visiting https://www.usbank.com/en/personal/PersonalCustomerService.cfm
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:CFPB Consent Order
On July 28, 2022, the business entered into a settlement with the Consumer Financial Protection Bureau (CFPB). The CFPB alleged the business illegally accessed its customers’ credit reports and opened checking and savings accounts, credit cards, and lines of credit without customers’ permission. The CFPB found that U.S. Bank violated the Consumer Financial Protection Act, the Fair Credit Reporting Act, the Truth in Lending Act, and the Truth in Savings Act. Under the terms of the settlement the business paid a $37.5 million penalty to the CFPB, and the CFPB will deposit it into the CFPB’s victims relief fund. The business is also required to develop a plan to remediate harmed consumers by returning all unlawfully charged fees and costs, plus interest. The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law. For more details go to the below link.
U.S. Bank provided the following response: "This settlement related to legacy sales practices involving a small percentage of account dating back to 2010. Since 2016, the Bank has made process and oversight improvements that have been effective in addressing these sales practices concerns. The concerns were focused on opening checking and savings accounts, credit cards, and premier and reserve lines of credit without customers’ permission. The accounts at issue were consumer, not business or institutional
,accounts. The action by the CFPB closes out a 5+ year investigation. We are pleased to put this matter behind us."
Overview
BBB Accredited Since: 4/1/1970
Years in Business: 96
BBB Accreditation & Rating
About This Business
Business Details
- Local BBB:
- BBB of Minnesota and North Dakota
- BBB File Opened:
- 4/1/1970
- Business Started:
- 1/1/1929
- Business Started Locally:
- 1/1/1929
- Type of Entity:
- Corporation
- Alternate Names:
- Union Bank
- Taltech
- US Bancorp
- FSV Payment Systems
- Us Bank
- State Farm Bank
- Card Holder Services
- BMW Financial Services
- Pure Point Financial
- Elan Financial Services
- IT & C Payment Services Department
- US Bank Trust Company NA
- US Bank National Association
- Elavon, Inc
- Business Equipment Financing
- U.S. Bank
- Business Management:
- William Benjamin, President
Additional Contact Information
- Principal Contacts
- William Benjamin, President
Additional Information
- Referral Assistance
- Minnesota Department of Commerce
85 7th Pl E Ste 500
Saint Paul MN 55101
Phone Number: (651) 539-1500
http://www.commerce.state.mn.us
[email protected] - North Dakota Department of Financial Institutions
2000 Schafer St Ste G
Bismarck ND 58501
Phone Number: (701) 328-9933
http://www.state.nd.us/bank
[email protected] - Business Categories
- Bank, Financial Services, Credit Cards and Plans, Banking Services
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