The regulatory action from the Federal Reserve was one of two U.S. Bank received for its dealings with a payday lender who was later convicted of fraud.

Huntington Bancshares and U.S. Bancorp also said in recent days that they are eliminating jobs to reduce overhead and improve profits. With net interest margins shrinking and branch traffic continuing to decline, expect more banks to follow suit, analysts say.

U.S. Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision.

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy.

The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees.

The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity.

Since joining U.S. Bancorp in 2007, Leslie Godridge has been largely responsible for building its corporate bank from a regional operation to a nationwide powerhouse.

As many women at U.S. Bancorp can attest, mentoring relationships don't have to be all that formal to be successful.

The wealth management and investment services group Kedia leads grew profits by nearly 25% last year and accounted for 13% of U.S. Bancorp's total revenues.

Expectations of more rate-cutting and slower GDP growth led the Minneapolis company to scale back its net income and revenue projections through 2022.