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U.S. Bank and American Express Announce Card-Issuing Agreement

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 20, 2013-- U.S. Bank and American Express today announced that U.S. Bank will offer credit cards accepted on the American Express network in 2014.

“We actively listen to our customers and are focused on delivering the right financial solutions that best meet their needs,” said Pam Joseph, Vice Chairman of U.S. Bank. “We believe that the American Express network provides a combination of benefits and services that many of our customers want. We’re proud to partner with American Express, a company with a rich history of service that’s dedicated to providing outstanding customer value.”

U.S. Bank is now working with American Express to design programs for U.S. Bank’s customers and expects to begin offering cards on the American Express network by fall 2014. The new American Express-branded cards will be available online, at U.S. Bank’s 3,088 branches and by phone.

“U.S. Bank and American Express share a strong commitment to delivering exceptional customer value,” said Ed Gilligan, President, American Express. “With this new partnership, we have a terrific opportunity to bring American Express’ unique benefits and services to U.S. Bank and create a compelling new range of products for their customers.”

U.S. Bank is a top issuer of credit and debit cards in the United States. U.S. Bank’s rewards card programs have been recognized nationally as among the best in the industry. Its customers have access to leading mobile payments innovation for which the company is also highly regarded. In addition to its bank-branded card portfolio, U.S. Bank has relationships with many high-profile brands for which it issues cobranded cards. U.S. Bank also provides white label card issuing services to thousands of banks and credit unions across the country through its Elan subsidiary.

About American Express

American Express (NYSE: AXP) is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Since 1997, American Express has partnered with a select group of leading banks and financial institutions around the world to issue American Express-branded products and acquire merchants on to the American Express merchant network. By leveraging its partnerships, global infrastructure and the powerful appeal of its brand, American Express has gained even broader reach for its network worldwide.

About U.S. Bank

Minneapolis-based U.S. Bancorp (NYSE: USB), with $361 billion in assets as of Sept. 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,088 banking offices in 25 states and 4,937 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 usbank.com.

Source: U.S. Bank

U.S. Bank Public Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com
or
American Express
Nina Chang, 212-640-2851
nina.y.chang@aexp.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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