U.S. Bancorp's Davis urges prudence in reform

Richard K. Davis, chairman-elect of the Financial Services Roundtable, said that the economic downturn that had hobbled so many banks presented opportunities for banks like his. "There is nothing more important in times like this than to prove to your customers that you are loyal to them and will be with them through the cycle," said Mr. Davis, who is chairman, president and chief executive officer of U.S. Bancorp. In his new role, Mr. Davis said, he would work to make sure regulatory reform is prudent. "We shouldn't make laws and make decisions at this moment in time without a little more discussion and a little more balance," Mr. Davis said.

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