Ethics at U.S. Bank


Relationships are the heart of our business. We build those relationships on trust-the trust each of us earns every day, through every interaction with our customers and the communities we serve.

Our commitment to the highest ethical standards is what makes that trust possible. This commitment is the foundation for our core values and guides every decision we make. It powers our ability to act as one U.S. Bank, no matter what part of the company we work in or where on the globe we sit.

Our Code of Ethics and Business Conduct shows us how to be the most trusted choice. Acting with integrity-and speaking up when we have concerns-is how we protect our customers and help them achieve their financial goals.

Our ethics program is designed to do one thing: give our 73,000 leaders and employees the training, tools and resources they need to do the right thing. Integrity has powered our business success for more than 150 years, and ethical leadership is driving the ways we're innovating to meet our customers' evolving expectations.

We understand our responsibility to earn our customers' trust every day. Our ethical culture powers our ability to do that.

Andy Cecere
Chairman, President and CEO

Note: U.S. Bancorp (the “Company”) periodically updates its Code of Ethics and Business Conduct (the “Code”) applicable to all employees, including its principal executive officer, principal financial officer and principal accounting officer, as those terms are defined under U.S. Securities and Exchange Commission rules.

On April 11, 2024, the Company approved updates to the Code, including updates to reorganize and streamline content. Such updates included:

  • Redesigning the Code to reflect brand standards and simplify navigation
  • Providing updated examples and Q&As throughout the Code
  • Condensing or consolidating content for clarity and to eliminate duplication, including the following sections: “Conflicts of interest", "Gifts and business hospitality”, “We use company resources responsibly”, “Responsible banking, sales and servicing activities” and “Intellectual property”
  • Removing illegal foreign boycott and environmental protection content

The above summary of updates to the Code is qualified in its entirety by reference to the full text of the Code.