U.S. Bancorp Investments, Inc. provides banking, brokerage, investment, trust, insurance, mortgage, and payment service products to businesses, consumers, and institutions. U.S. Bancorp is the parent company of U.S. Bank (NYSE: USB) and U.S. Bancorp Investments is the brokerage arm of U.S. Bancorp. A full-service institution, U.S. Bancorp Investments is based in Minneapolis.
Because U.S. Bancorp Investments is licensed by the Financial Industry Regulatory Authority (FINRA), which means that U.S. Bancorp is subject to the protective measures and regulations imposed on investment firms for the sake of investors. Part of these measures is U.S. Bancorp’s legal obligation to oversee its brokers to ensure that they are acting in line with their clients’ interests and within the limits of financial regulations.
If you have suffered losses as a result of a Bancorp broker’s inappropriate or unethical advice, the law holds U.S. Bancorp legally liable to repay your losses. You have the right to file a claim against the firm, who licenses brokers and is partially responsible for their negligent behavior.
From 2014-2015, U.S. Bancorp faced a lawsuit from federal regulators, who sued the corporation for allegedly allowing customers’ assets to be used for the personal interests of Peregrine Financial Group’s founder, Russell Wasendorf. He used client assets to pay for a private plan, a divorce settlement, and his own restaurant. His scam ultimately cost U.S. Bancorp clients $215 million. U.S. Bancorp eventually paid $18 million as a result of failing to abide by financial rules that forbid customer assets to be used by any entity other than the customers.
If you’ve been wronged by a U.S. Bancorp representative, causing losses and damages to your assets, they do not have to get away with it. Meyer Wilson investment fraud attorneys know how to fight for your rights as an investor, and our firm can reclaim what is rightfully yours. Our lawyers recovered nearly $30 million for victims of investment fraud in 2014, and we have the resources to go toe-to-toe with the largest investment firms in the U.S. Let us fight for you, from state or federal courts to arbitration with FINRA or the American Arbitration Association.