U.S. Bank must pay Peregrine customers $18m

U.S. Bank must pay Peregrine customers $18m

A JUDGE has ordered U.S. Bank to pay Peregrine Trustee $18 million. At the time of its bankruptcy in July 2012, Peregrine Financial Group was the nation's second-largest non-bank, non-clearing futures commission merchant.

U.S. Bank maintains branch offices in Cedar Falls, Iowa, where Peregrine and owner Russell Wasendorf Sr. were located. U.S. Bank was a depository for Peregrine and held a customer seg

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