This is a multi-location business.
- Location of This Business
- Minneapolis, MN 55402-7000
- BBB File Opened:
- 4/1/1970
- Years in Business:
- 95
- Business Started:
- 1/1/1929
- Business Started Locally:
- 1/1/1929
- Accredited Since:
- 4/1/1970
- Type of Entity:
- Corporation
- Alternate Business Name
- Union Bank
- Taltech
- US Bancorp
- FSV Payment Systems
- Us Bank
- State Farm Bank
- Card Holder Services
- BMW Financial Services
- Pure Point Financial
- Elan Financial Services
- IT & C Payment Services Department
- US Bank Trust Company NA
- US Bank National Association
- Elavon, Inc
- Business Equipment Financing
- U.S. Bank
- Business Management
- William Benjamin, President
- Contact Information
Principal
- William Benjamin, President
- Additional Business Information
- Additional Info
According to US Bank anyone who has received a card for unemployment benefits that they did not apply for should destroy the card, report it on the ReliaCard website (usbankreliacard.com), notify the state unemployment agency that paid the unemployment benefits of potential fraud, and take precautions to mitigate the risks of potential identity theft. The determination of unemployment benefit claims approval and to whom ReliaCards are issued resides with the state.
Call 800-US BANKS or find specific customer service department listings by visiting https://www.usbank.com/en/personal/PersonalCustomerService.cfm
Government ActionsGovernment Action: BBB reports on known government actions involving business’ marketplace conduct:CFPB Consent OrderOn July 28, 2022, the business entered into a settlement with the Consumer Financial Protection Bureau (CFPB). The CFPB alleged the business illegally accessed its customers’ credit reports and opened checking and savings accounts, credit cards, and lines of credit without customers’ permission. The CFPB found that U.S. Bank violated the Consumer Financial Protection Act, the Fair Credit Reporting Act, the Truth in Lending Act, and the Truth in Savings Act. Under the terms of the settlement the business paid a $37.5 million penalty to the CFPB, and the CFPB will deposit it into the CFPB’s victims relief fund. The business is also required to develop a plan to remediate harmed consumers by returning all unlawfully charged fees and costs, plus interest. The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law. For more details go to the below link.
U.S. Bank provided the following response: "This settlement related to legacy sales practices involving a small percentage of account dating back to 2010. Since 2016, the Bank has made process and oversight improvements that have been effective in addressing these sales practices concerns. The concerns were focused on opening checking and savings accounts, credit cards, and premier and reserve lines of credit without customers’ permission. The accounts at issue were consumer, not business or institutional
,accounts. The action by the CFPB closes out a 5+ year investigation. We are pleased to put this matter behind us."Government ActionsGovernment Action: BBB reports on known government actions involving business’ marketplace conduct:CFPB Consent orderOn December 19, 2023, the business entered into a Consent Order with the Consumer Financial Protection Bureau (CFPB). The Consent Order settles allegations that the business engaged in unfair actions that resulted in a failure to provide unemployment insurance benefit cardholders with a process to verify their identities and access their unemployment benefits, a violation of Sections 1031 and 1036 of the CFPA, 12 U.S.C. §§ 5531(a) and (c), 5536(a)(1)(B). The Consent Order also settles allegations that the business failed to investigate and resolve the notices by cardholders of alleged unauthorized (EFT) transfers, a violation of EFTA, 15 U.S.C. § 1693f(a), (c), and Section 1005.11(b)(2), (c)(2) of Regulation E.
Under terms of the Consent Order, the business agreed to no longer violate Sections 1031 and 1036 of the CFPA, 12 U.S.C. §§ 5531 and 5536, Sections 908 and 909 of EFTA, 15 U.S.C. §§ 1693f and 1693g, and Section 1005.11 of Regulation E, including preventing eligible consumers access to their unemployment insurance benefit prepaid debit card and account by requiring submission of identity documents without a process in place to accept and review the documents in a timely manner and to not require consumers to provide additional written confirmation of any notice of alleged unauthorized EFT transfers. The business also agreed, within 90 days of the Order, to create and implement a compliance plan to ensure that their administration of unemployment benefit prepaid debit card accounts comply with all laws enforced by CFPB. The business further agreed to pay $5.7 Million in redress to affected consumers and to submit to CFPB a plan for redress for affected consumers, which will include harm related payments and the process for sending payments to those affected consumers. If the amount of redress provided to consumers is less than $5.7 Million, the balance will be sent to CFPB, which may be used for additional redress to affected consumers. The business also agreed to pay a civil money penalty of $15 Million to CFPB.
US Bank provided the following statement to BBB about the Consent Order: "The global pandemic posed new challenges for businesses across the economy, including U.S. Bank’s program to distribute state unemployment benefits using ReliaCard prepaid debit cards which grew nearly 4000% during this period. In the face of these unprecedented times, the Bank stepped up to enable the government to provide assistance to those in need during the pandemic and worked to identify and combat fraud. While a small portion of cardholders were affected due to extended holds, we prevented fraud of over $375 million and returned to the states hundreds of millions in additional funds sent to questionable accounts. This saved taxpayers from significant losses during challenging times. The Bank is proud of the enhancements it has made to the ReliaCard program since the inception of the pandemic. We remain committed to serving our state agency clients and their customers.”
The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law. For more details go to the below link.
- Serving Area
- Afton, MN
- Albertville, MN
- Almelund, MN
- Andover, MN
- Annandale, MN
- Anoka, MN
- Antlers Park, MN
- Apple Valley, MN
- Arden Hills, MN
- Argonne, MN
- Bayport, MN
- Baytown, MN
- Becker, MN
- Belle Plaine, MN
- Bethel, MN
- Bible College, MN
- Big Lake, MN
- Birchwood, MN
- Blaine, MN
- Bloomington, MN
- Braham, MN
- Branch, MN
- Brooklyn, MN
- Brooklyn Park, MN
- Buffalo, MN
- Burns, MN
- Burnsville, MN
- Cambridge, MN
- Carver, MN
- Castle Rock, MN
- Cedar, MN
- Cedar East Bethel, MN
- Center City, MN
- Centerville, MN
- Champlin, MN
- Chanhassen, MN
- Chaska, MN
- Chisago City, MN
- Chisago Lake, MN
- Circle Pines, MN
- Clear Lake, MN
- Cokato, MN
- Cologne, MN
- Columbia Heights, MN
- Columbus, MN
- Coon Rapids, MN
- Copas, MN
- Corcoran, MN
- Cottage Grove, MN
- County Market, MN
- Crown College, MN
- Crystal, MN
- Crystal Bay, MN
- Dalbo, MN
- Day, MN
- Dayton, MN
- Deephaven, MN
- Delano, MN
- Dellwood, MN
- Douglas, MN
- Eagan, MN
- East Bethel, MN
- Eden Prairie, MN
- Edgewood, MN
- Edina, MN
- Elk River, MN
- Elko, MN
- Elko New Market, MN
- Excelsior, MN
- Falcon Heights, MN
- Farmington, MN
- Forest Lake, MN
- Fort Snelling, MN
- Franconia, MN
- Fridley, MN
- Gem Lake, MN
- Golden Valley, MN
- Grandy, MN
- Grant, MN
- Grass Lake, MN
- Greenfield, MN
- Greenwood, MN
- Grey Cloud Island, MN
- Ham Lake, MN
- Hamburg, MN
- Hamel, MN
- Hampton, MN
- Hanover, MN
- Harris, MN
- Hassan, MN
- Hastings, MN
- Hilltop, MN
- Hopkins, MN
- Howard Lake, MN
- Hugo, MN
- Independence, MN
- Inver Grove, MN
- Inver Grove Heights, MN
- Isanti, MN
- Jordan, MN
- Lake Elmo, MN
- Lake Saint Croix Beach, MN
- Lakeland, MN
- Lakeland Shores, MN
- Lakeville, MN
- Landfall Village, MN
- Lauderdale, MN
- Lent, MN
- Lexington, MN
- Lilydale, MN
- Lindstrom, MN
- Lino Lakes, MN
- Linwood, MN
- Little Canada, MN
- Long Lake, MN
- Loretto, MN
- Mahtomedi, MN
- Maple Grove, MN
- Maple Lake, MN
- Maple Plain, MN
- Maplewood, MN
- Marine on Saint Croix, MN
- Martin Lake, MN
- Mayer, MN
- Medicine Lake, MN
- Medina, MN
- Mendota, MN
- Mendota Heights, MN
- Minneapolis, MN
- Minnetonka, MN
- Minnetonka Beach, MN
- Minnetonka Mills, MN
- Minnetrista, MN
- Monticello, MN
- Montrose, MN
- Mound, MN
- Moundsview, MN
- Navarre, MN
- New Brighton, MN
- New Germany, MN
- New Hope, MN
- New Market, MN
- New Scandia, MN
- New Trier, MN
- Newport, MN
- North Branch, MN
- North Oaks, MN
- North Saint Paul, MN
- Norwood, MN
- Norwood Young America, MN
- Nowthen, MN
- Oak Grove, MN
- Oak Park Heights, MN
- Oakdale, MN
- Orono, MN
- Osseo, MN
- Otisville, MN
- Otsego, MN
- Palmdale, MN
- Pine Springs, MN
- Plymouth, MN
- Prior Lake, MN
- Ramsey, MN
- Randolph, MN
- Richfield, MN
- Robbinsdale, MN
- Rockford, MN
- Rogers, MN
- Rosemount, MN
- Roseville, MN
- Rush City, MN
- Saint Anthony, MN
- Saint Anthony Village, MN
- Saint Augusta, MN
- Saint Bonifacius, MN
- Saint Cloud, MN
- Saint Croix, MN
- Saint Croix Beach, MN
- Saint Francis, MN
- Saint Louis Park, MN
- Saint Marys Point, MN
- Saint Michael, MN
- Saint Paul, MN
- Saint Paul Park, MN
- Santiago, MN
- Savage, MN
- Scandia, MN
- Shafer, MN
- Shakopee, MN
- Shoreview, MN
- Shorewood, MN
- Silver Creek, MN
- Soderville, MN
- South Haven, MN
- South Saint Paul, MN
- Spectacle Lake, MN
- Spring Lake Park, MN
- Spring Park, MN
- Stacy, MN
- Stanchfield, MN
- Stanford, MN
- Stillwater, MN
- Sunfish Lake, MN
- Sunrise, MN
- Taylors Falls, MN
- Tonka Bay, MN
- Vadnais Heights, MN
- Vermillion, MN
- Victoria, MN
- Waconia, MN
- Watertown, MN
- Waverly, MN
- Wayzata, MN
- Weber, MN
- West Lakeland, MN
- West Saint Paul, MN
- White Bear, MN
- White Bear Lake, MN
- Willernie, MN
- Woodbury, MN
- Woodland, MN
- Wyoming, MN
- Young America, MN
- Zimmerman, MN
- Service Type
- Referral Assistance
- Minnesota Department of Commerce
85 7th Pl E Ste 500
Saint Paul MN 55101
Phone Number: (651) 539-1500
http://www.commerce.state.mn.us
[email protected] - North Dakota Department of Financial Institutions
2000 Schafer St Ste G
Bismarck ND 58501
Phone Number: (701) 328-9933
http://www.state.nd.us/bank
[email protected]
- Minnesota Department of Commerce
- Business Categories
- Bank, Financial Services, Credit Cards and Plans, Banking Services
Accreditation
Accredited Since: 4/1/1970
Years in Business: 95
BBB Rating
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