Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 99

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 99
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 risk management, including the identification, measurement, management and monitoring of all of the company’s key risks, including operational, compliance, and credit risks. We believe the diverse range of skills, experience, and perspectives represented among our directors, as discussed in this proxy statement, enable the Board to provide effective oversight.

| ​ | 84 | ​ | ​ | U.S. Bancorp 2025 Proxy Statement | ​ |

TABLE OF CONTENTS Proposal 4 — Shareholder proposal regarding a report on board oversight of risks relating to discrimination

As a financial institution, we are subject to comprehensive supervision and regulation by several focused agencies as well as other federal, state and international laws and regulations. Compliance with these obligations may, under certain circumstances, require account closures; however, we do not close accounts on the basis of race, color, religion, sex, national origin or political affiliation. We are subject to comprehensive supervision and regulation by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Consumer Financial Protection Bureau, among others, and various other federal, state and international regulations. This includes requirements to maintain an appropriate risk management framework, including a risk-based financial crimes program and procedures for opening, reviewing, and closing customer accounts. Under certain circumstances, these requirements may require the closure of certain customer accounts. However, we do not make decisions regarding the opening, reviewing, or closing of accounts on the basis of race, color, religion, sex, national origin, political affiliation, or any other basis prohibited by law. We are also subject to regulatory oversight designed to protect consumers, prohibit discrimination, and provide access to financial services. Given our existing policies and procedures that are intended to prevent discrimination in the provision of our products and services, regulatory requirements and oversight of our business, and existing disclosures, the proposed evaluation and report are unnecessary and would not provide shareholders with meaningful additional information.

| ​ | ​ |                                                                                                                                                   | ​ | ​ | AGAINST | ​ | ​ |
| ​ | ​ | The Board of Directors recommends that you vote “AGAINST” this proposal regarding a report on board oversight of risks relating to discrimination |   |   |         | ​ | ​ |

| ​ | U.S. Bancorp 2025 Proxy Statement | ​ | ​ | 85 | ​ |

TABLE OF CONTENTS Security ownership of certain beneficial owners and management

Security ownership of certain beneficial owners and management The following tables show how many shares of our common stock were beneficially owned