US Bancorp reported a blah fourth quarter, as income dropped, its revenues rose a bit, and delinquency rates and loan losses grew incrementally worse.
The bank reported net income of $942 million down from $1.2 billion in the fourth quarter of 2006, as net revenues rose slightly to $3.5 billion from $3.4 billion. Part of the income drop was due to a charge of $215 million the bank took as its share of the settlement of the payment from Visa to American Express to settle an antitrust lawsuit.
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