US Bancorp, a regional bank with a market capitalisation greater than Citigroup's, was accused yesterday of being a "subprime Scrooge" for its role in the housing crisis.

Jeffrey Klein, New York state senator, criticised the bank and nine others for continuing to pursue foreclosures "despite receiving more than [$122bn] in the taxpayer-funded bail-out". Mr Klein said the 10 banks had issued more than 4,500 foreclosure notices in the state in the past two months.