U.S Bancorp Among Minnesota Companies Urging De-Escalation
U.S Bancorp, the banking division of U.S. Bancorp, is among nearly 70 Minnesota-based companies that have called for an immediate de-escalation of tensions in Minneapolis following the fatal shooting of a second resident by immigration officials. The call comes in the wake of growing unrest and tension in the city due to a sharp increase in Immigration and Customs Enforcement (ICE) activity.
Open Letter from Minnesota CEOs
Gunjan Kedia, CEO of U.S Bancorp, along with other executives, signed an open letter released by the Minnesota Chamber of Commerce. The document urges state, local, and federal officials to work together to find real solutions to end the current unrest. The message of the letter was reposted by U.S. Bank on LinkedIn, emphasizing their commitment to building a strong future for Minneapolis.
Backdrop of the Call
The call for de-escalation comes against the backdrop of escalated immigration enforcement by the Trump administration. The situation intensified with the recent fatal shooting of Alex Pretti, an ICU nurse, by ICE agents. This incident marks the second fatal shooting this month, following the death of Renee Good on January 7. Both Pretti and Good were U.S. citizens, which has further exacerbated the tension in the community.
Support from the Business Roundtable
The open letter received backing from the Business Roundtable, an association comprising over 200 chief executives of U.S. companies. The group includes CEOs of some of the nation’s largest banks, such as JPMorganChase, Bank of America, Citi, and Wells Fargo. Joshua Bolten, the CEO of Business Roundtable, expressed support for the Minnesota business leaders’ call for cooperation between state, local, and federal authorities to immediately de-escalate the situation in Minneapolis.
U.S. Bancorp’s Position in Minnesota
As per Federal Deposit Insurance Corp. data, U.S. Bank holds the largest deposit in Minnesota, commanding over 33% of the market share. As of December 31, U.S. Bancorp had assets worth $692.3 billion. Despite the civil unrest in Minneapolis following the murder of George Floyd in 2020, the bank has not closed any of its branches or suffered any damages during protests.
Other Financial Institutions on the Letter
Besides Gunjan Kedia of U.S. Bancorp, the CEOs of five other financial services firms also signed the open letter. They include representatives from Allianz Life Insurance Company, Ameriprise Financial, Piper Sandler, Securian Financial, and Thrivent. These business leaders are striving to work with federal, state, and local officials every day to devise real solutions for the ongoing tensions.
By calling for immediate de-escalation and cooperation among authorities, these Minnesota companies reflect their commitment to their community and their belief in progress through unity.
Source: Here
