06/09/2025 | Press release | Distributed by Public on 06/09/2025 23:31
MINNEAPOLIS (June 9, 2025) - U.S. Bank announced that it has selected Financial Recovery Technologies (FRT) as its securities litigation service provider for custody clients. FRT provides comprehensive global class action monitoring, robust reporting, filing and recovery services.
FRT will file class actions claims and antitrust suits on behalf of U.S. Bank custody clients enrolled in the service who hold impacted securities over a given class period. The service includes U.S. and Canadian settled class actions, U.S. and Canadian antitrust suits, and global passive class actions.
Jay Martin, president, U.S. Bank Investment Services, says, "U.S. Bank prioritizes digital automation to drive efficiency for our clients and our teams, so we're thrilled to work with a specialist that places technology at the center of their offering. We're bringing together two companies with world-class expertise, innovative digital solutions and an unparalleled commitment to client service excellence."
"By integrating our industry-leading technology with U.S. Bank's custody solutions, we provide their clients a range of recovery services designed to address increasing industry complexity," said Mike Cotter, president, FRT. "U.S. Bank clients benefit from our proprietary, purpose-built platform, combined with our deep expertise, to identify every eligible class action opportunity and maximize recovery amounts."
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Contact:
Kimberly Mikrot, U.S. Bank Public Affairs and Communications
kimberly.mikrot@usbank.com | 612.206.2553
About U.S. Bancorp
U.S. Bancorp, with approximately 70,000 employees and $676 billion in assets as of March 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World's Most Ethical Companies and one of Fortune's most admired superregional banks. Learn more at usbank.com/about.