U.S. Bancorp Lowers Prime Lending Rate
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MINNEAPOLIS--(BUSINESS WIRE)--
U.S. Bancorp (NYSE: USB) announced it will lower its prime lending rate to 4.50 percent from 5.00 percent, effective after the close of business today, October 8, 2008, at all U.S. Bank locations.
U.S. Bancorp last announced a change in its prime lending rate on April 30, 2008, when it was decreased 25 basis points to 5.00 percent from 5.25 percent.
U.S. Bancorp, with $247 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States, as of June 30, 2008. The company operates 2,542 banking offices and 4,895 ATMs, 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 www.usbank.com.
Source: U.S. Bancorp
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