December 22, 2000

Judge Approves Settlement Against U.S. Bank For Violating Customers' Privacy; Dec. 31 Deadline for Filing Claims

In June 1999, the Minnesota Attorney General filed suit against U.S. Bank for allegedly violating the privacy of thousands of its customers by selling information regarding them to a telemarketing company.

Later that year, the law suit was settled and U.S. Bank agreed to stop sharing customer information and provide refunds to certain customers.

A number of private law suits were also filed seeking damages from U.S. Bank as a result of the same alleged privacy violations. These suits were later consolidated in federal district court in Minneapolis.

On December 12, 2000, the court approved a proposed settlement.

Under the settlement, U.S. Bank has agreed to pay over $3,000,000, of which twelve law firms will receive a total of $1,250,000 in fees and $40,000 in expenses.

The remainder will be distributed to persons whose claims are approved by a retired judge. The maximum possible payment is $2,000.

Although millions of persons who were checking or credit card customers of U.S. Bank prior to July 1999 may be entitled to receive a payment if they return a claim form, as of November 30 only 81,695 claims forms had been filed.

The deadline for returning claims forms is December 31, 2000.

U.S. Bank customers who did not receive a copy of the settlement notice, who need a claims form, or who have additional questions may contact the Claims Administrator toll-free at 1-877-768-2625 between 9 a.m. and 5 p.m Central Time.

There is no cost for filing a claim form (other than a postage stamp to mail it).

Claims forms and additional information regarding the settlement may also be found on the Internet at .

The claims form states that persons entitled to receive checks should expect to receive them on or after March 31, 2001.

U.S. Bank, which is headquartered in Minneapolis, has assets of over $80 billion and operates more than 1100 branches in 16 western and midwestern states.

Return to the Frontpage