U.S. Bank

Is U.S. Bank safe?

Yes, for insured deposits. U.S. Bank National Association is FDIC-insuredDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary, and its parent U.S. Bancorp holds a CET1CET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary capital ratio of 10.8% against a 7.1% requirement. It is also one of the few large US banks that stayed profitable through the 2008 crisis. We score it 74/100. The weaker points are liquidity, where its buffer is thinner than at the giant banks and about half of deposits are above the insurance limit, and a conduct record that includes a criminal anti-money-launderingAnti-money launderingThe rules and checks that stop criminals from moving illegal money through banks, payment firms and crypto exchanges.More in the glossary case.

Which bank holds the money?

Checking, savings, money market accounts and CDs are deposits at U.S. Bank National Association in Cincinnati (FDICDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary certificate 6548). It had $726 billion of group assets and $532 billion of deposits in June 2026. U.S. Bancorp bought MUFG Union Bank in late 2022 and the brokerage BTIG in June 2026. Union Bank accounts are now part of U.S. Bank, so they count together for the $250,000 limit.

U.S. Bank is not a global systemically important bankG-SIBA global systemically important bank: one of the large banks the Financial Stability Board lists each year because its failure could harm the world economy.More in the glossary. That means a lower capital requirement than at Wells Fargo or JPMorgan, and no G-SIB surcharge. It does not change the FDIC cover, which is the same at every insured bank.

Capital and ratings

The 7.1% requirement comes from a 4.5% minimum and a 2.6% stress capital buffer set after the Federal Reserve's 2025 stress test, one of the lower buffers among large US banks. The 3.7-point cushion is wider than at most of the G-SIBsG-SIBA global systemically important bank: one of the large banks the Financial Stability Board lists each year because its failure could harm the world economy.More in the glossary we cover. Morningstar DBRS rates U.S. Bank National Association AA and the parent AA (low), and noted that deposits fully fund the loan book. The parent's senior bonds were rated A3 by Moody's, A by S&P and A+ by Fitch, all with stable outlooks, when it issued in July 2026. At S&P and Fitch that is higher than even the bank-level ratings at Capital One.

Liquidity: the weakest number

The liquidity coverage ratioLiquidity coverage ratioA bank's cash and easy-to-sell assets compared with the money that could flow out in a 30-day crisis. It must be at least 100%.More in the glossary averaged 107.6% in the second quarter of 2026, compared with 129% at Morgan Stanley and 165% at Capital One. It meets the rule, but with less room. The bank's June 2026 call report to the FDICDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary estimates $283 billion of uninsured deposits, about 53% of domestic deposits. A large share is likely business and institutional money, which usually stays put but can move fast in a crisis.

In 2023, when regional banks lost deposits after the failure of Silicon Valley Bank, U.S. Bank did not need outside support. Higher interest rates and the Union Bank deal did squeeze its capital that year, which it has since rebuilt to 10.8%.

Fines and orders

• February 2018: U.S. Bancorp entered a deferred prosecution agreement with federal prosecutors in Manhattan for willfully failing to run an effective anti-money-launderingAnti-money launderingThe rules and checks that stop criminals from moving illegal money through banks, payment firms and crypto exchanges.More in the glossary programme and file suspicious activity reports, partly linked to payday lender Scott Tucker. With OCC, FinCEN and Federal Reserve penalties, the total was about $613 million.
• July 2022: the CFPB fined it $37.5 million for opening accounts and credit cards without customers' consent under sales pressure.
• December 2023: the CFPB ($15 million penalty plus $5.7 million redress) and the OCC ($15 million) acted over frozen prepaid cards holding unemployment benefits during the pandemic.

Both CFPB orders were ended in 2025, and we found no open federal consent order against the bank. Conduct still scores 50 because of the criminal AML case and the sales-practice findings.

Digital security

We found no large breach of U.S. Bank's own systems. In 2022 a collections vendor sent data on about 11,000 closed credit card accounts, including Social Security numbers, to the wrong firm, and the bank offered credit monitoring. The ReliaCard case also showed weak handling of disputed transfers when fraud spiked.

How to keep your money safe at U.S. Bank

• Stay within $250,000 per ownership category, counting any former Union Bank accounts.
• Business owners with large balances can ask about sweep or deposit placement services that spread money across insured banks.
• Turn on two-step verificationTwo-factor authenticationSigning in with a second proof of identity on top of your password, such as a code from an app, a security key or a passkey.More in the glossary and transaction alerts, and only use contact details from the card or the official app if someone calls about fraud.

How we scored it

Stability history (85) and capital (80) are the strongest factors. Liquidity (68) is held back by a modest LCRLiquidity coverage ratioA bank's cash and easy-to-sell assets compared with the money that could flow out in a 30-day crisis. It must be at least 100%.More in the glossary and a high share of uninsured deposits, and conduct (50) by the 2018 money-laundering case and the 2022 fake-account findings. Confidence is medium because we could verify Moody's, S&P and Fitch ratings only for the parent, not for the bank itself.