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U.S. Bank tech spend up 12% to $513M

BankInovation

Bank made digital and operational investments during the fourth quarter as it focused on modernizing payments and technology. The $668 billion, Minneapolis, Minn. bank spent $513 million on technology and communication during Q4, up 12% year over year, according to its Q4 2023 earnings presentation.

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With Curfews Descending, Uber And Others Suspend Services

PYMNTS

With curfews descending on some American cities due to violent clashes between law enforcement and protesters, Uber , Lyft and DoorDash have ceased operations during the curfew hours, CNBC reports. The protests have broken out in response to the killing of George Floyd, an unarmed black man, by a police officer in Minneapolis last week.

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U.S. Bancorp partners with Microsoft to integrate payments, apps

BankInovation

Bancorp is doubling down on its growing digital-banking operations by partnering with Microsoft Corp. The multiyear partnership is meant to help business customers more easily generate invoices and handle payments, the Minneapolis-based lender said in a statement. to improve offerings over the internet and on mobile apps.

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60% of U.S. Bank Transactions Are Digital, COO Says

Bank Innovation

Bank’s transactions are now 60% digital, Chief Operating Officer Andrew Cecere said at the Goldman Sachs U.S. But that doesn’t mean the Minneapolis-based bank is giving up on branches. Financial Services Conference this week. It has around 3,000 branches and 80% of its sales activity still takes place there Read More.

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U.S. Bancorp pledges $116 million to address racial inequality

American Banker

As part of its commitment, the Minneapolis company said it will provide $100 million in capital to African American owned and operated businesses and organizations.

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Huntington Teams With TCF Financial In $22 Billion Bank Merger

PYMNTS

The newly-combined company will operate under the Huntington name and brand. This partnership will provide us the opportunity for deeper investments in our communities, more jobs in Detroit, an increased commitment in Minneapolis and a better experience for our customers,” Torgow said.

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Kristen Larson joins Ballard Spahr’s Consumer Financial Services Group

CFPB Monitor

She is resident in the firm’s Minneapolis office. Kristen’s practice involves consumer, small business, and treasury management products and services; digital banking; emerging payments; servicing; innovative technology; information security; operations; marketing; and complex service contracts.

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