U.S. Bancorp (USB.N)
27 Feb 2017
Latest Key Developments (Source: Significant Developments)
Elavon:Signs multi-year agreement with Wyndham Hotel Group to integrate secure payment technology for approximately 4,500 of the company's more than 7,600 hotels over the next 18 months.Integration leverages Elavon's Fusebox gateway and Simplify payment security software application to remove cardholder data from each hotel's Property Management System (PMS).Says this layered approach to security includes encryption, tokenization and EMV acceptance devices and helps hotels mitigate risk associated with PCI compliance and the EMV liability shift coming in Oct.Elavon is a subsidiary of U.S. Bancorp. Full Article
U.S. Bancorp:Expects to recommend increase in dividend to $1.02, or $0.255 on a quarterly basis beginning Q2 2015.Says approved a five-quarter authorization to repurchase up to $3.022 billion of common stock beginning on April 1. Full Article
The bond insurer Ambac Financial Group Inc has sued U.S. Bancorp to stop the bank from accepting a lowball settlement between investors and Bank of America Corp over shoddy mortgage securities.