U.S. Bancorp no longer plans to bide its time as competitors figure out how to recoup fee income regulated away by the Durbin amendment. Now it will be piling on with everyone else.
The Minneapolis company had been planning on sitting tight for several quarters to observe what worked and what didn't as other banks reacted first, a strategy that perhaps would have helped U.S. Bancorp gain market share from banks that upset their customers too much by implementing new fees or account requirements.
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