Kroger Credit Cards Now Serviced by U.S. Bank

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Kroger Credit Cards Now Serviced by U.S. Bank

Kroger's credit card accounts have returned to American ownership after U.S. Bank's purchase of the retailer's private label credit portfolio from the Royal Bank of Scotland. Like most retailers, Kroger has relied on banking partnerships to extend credit and other financial services to its customers. With RBS facing pressure from European regulators to increase its access to liquid capital, the sale to U.S. Bank puts cash into the Scottish institution's coffers at a critical time.

Meanwhile, Kroger and U.S. Bank officials expressed enthusiasm at the opportunity to offer a wider range of personal finance tools and services to the grocery chain's customers. With over 2,400 locations, Kroger can offer U.S. Bank presence in locations where it doesn't yet have a physical footprint. The retail partnership includes expansion of prepaid debit card services powered by U.S. Bank's infrastructure.

The purchase also signified a renewed partnership between two of Cincinnati's most esteemed institutions. Though U.S. Bank now maintains corporate headquarters in Minneapolis, it traces its heritage to Star Bank, with whom Kroger maintained accounts over eight decades ago.

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