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Financial Regulatory Reform

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Global Engagement

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Competitive Tax Rates

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Engagement with China

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Economic Value of Large Financial Institutions

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Large financial institutions provide significant value to the U.S. economy and American investors, business owners, and savers.

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Chairman, President and Chief Executive Officer
U.S. Bancorp

davis_richard

Davis, age 53, is chairman, president and chief executive officer of U.S. Bancorp, a financial services holding company with more than $308 billion in total assets and businesses across the United States, Canada and Europe. U.S. Bancorp is the parent company of U.S. Bank, which has 3,069 full-service banking offices and 5,310 ATMs in 25 states. U.S. Bancorp is also the parent company of Elavon, a leader in the payment processing industry. U.S. Bancorp is headquartered in Minneapolis.

Davis began his banking career as a teller at age 18, worked his way through college and now leads the nation’s 5th largest commercial bank. He became CEO of U.S. Bancorp in 2006, previously having been a senior executive with the organization and its predecessors since 1993, most recently as president and chief operating officer. His strategic vision continues to influence the company’s consumer banking, wholesale banking, private client, trust, asset management, payments businesses and risk management. He chairs U.S. Bancorp’s managing committee, the 14 highest-ranking executives within the organization.

Davis has been an influencing force in the banking industry for 34 years. His leadership and prudent approach to financial management has garnered national and international praise for U.S. Bancorp, as he has led the company successfully through the recent economic downturn. Today, U.S. Bancorp is one of the strong and stable survivors of what was one of the most difficult chapters in banking history. His outstanding leadership skills were recognized as he was named the “2010 Executive of the Year” by the Twin Cities Business Journal and “2010 Banker of the Year” by the American Banker.

During his career Davis has held executive level positions with Bank of America and Security Pacific Bank, both in Los Angeles, and with legacy organizations of today’s U.S. Bancorp, which include the former Firstar Corporation in Milwaukee and Star Banc Corporation in Cincinnati.

Davis’ enthusiasm for his industry is equally prevalent in his civic and philanthropic commitments. Davis serves on the boards of the American Red Cross, Minnesota Orchestra, Minneapolis YMCA, Minneapolis Art Institute, the University of San Diego, the Business Council, the University of Minnesota Foundation, Minneapolis/Saint Paul Regional Economic Development Partnership and Minnesota Business Partnership. He also is a member of the Financial Services Roundtable, the Financial Services Forum and the International Monetary Conference (IMC), and is the representative for the Ninth District of the Federal Reserve serving on its Financial Advisory Committee. He is a director of Xcel Energy Inc. and serves as chairman of the board of U.S. Bancorp. Davis has also been honored, in May 2010, by the Banking and Finance Division of the UJA-Federation of New York and has been the recipient of the President’s Lifetime Volunteer Service Award in 2007.

Davis earned a bachelor's degree in economics from California State University at Fullerton, and is married and the father of three adult children and has one grandson.


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The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 18 of the largest and most diversified financial services institutions doing business in the United States.

The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.