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U.S. Bancorp passes the government's 'stress test'

By Dan Haugen | 05/08/09

U.S. Bancorp CEO Richard Davis is "satisfied and not surprised" that the bank passed the government's so-called "stress test."

“With the stress test now behind us, we remain committed to paying back the TARP funds as quickly as possible, and we will continue to work closely with our regulators to establish the appropriate timetable,” Davis said in the company's statement.

Federal regulators have been running the nation's 19 largest banks' books through a series of "worst-case" scenarios to try and predict whether they would be able to survive a deeper recession.

Davis said the company disagrees with assumptions used in the tests but said the fact U.S. Bank passed is a testament to its disciplined lending practices, mix of businesses and strong balance sheet.

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Comments (1)

Submitted by Bobby Thompson on May 8, 2009 - 9:47am.

Now we have stress tests to see if the banks can handle what they did to the american people! But when it came to Countrywide giving me a modification to get off of my payoption arm they denied me twice! I had to hire a firm www.proloanmods.com to get a fixed rate. Now if we can see the government force banks to put people into fixed rates I think we have a chance to get out of this alive