FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * GLUCKMAN VICTORIA BUYNISKI   2. Issuer Name and Ticker or Trading Symbol US BANCORP \DE\ [USB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 3 GRANDIN LANE 3. Date of Earliest Transaction (Month/Day/Year) 07/17/2008 (Street) CINCINNATI, OH 45208 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, $0.01 par value 07/17/2008   M   503 A $ 25.4519 83,969 D   Common Stock, $0.01 par value 07/17/2008   M   6,947 A $ 21.2306 90,916 D   Common Stock, $0.01 par value 07/17/2008   M   6,041 A $ 20.7961 96,957 D   Common Stock, $0.01 par value 07/17/2008   M   1,057 A $ 23.2171 98,014 D   Common Stock, $0.01 par value 07/17/2008   M   705 A $ 20.734 98,719 D   Common Stock, $0.01 par value 07/17/2008   M   629 A $ 22.4101 99,348 D   Common Stock, $0.01 par value 07/17/2008   M   8,961 A $ 21.541 108,309 D   Common Stock, $0.01 par value 07/17/2008   M   1,158 A $ 23.2792 109,467 D   Common Stock, $0.01 par value 07/17/2008   M   8,860 A $ 23.2792 118,327 D   Common Stock, $0.01 par value 07/17/2008   M   6,141 A $ 23.1824 124,468 D   Common Stock, $0.01 par value 07/17/2008   M   1,259 A $ 23.0433 125,727 D   Common Stock, $0.01 par value 07/17/2008   M   629 A $ 23.1526 126,356 D   Common Stock, $0.01 par value 07/17/2008   M   881 A $ 21.8713 127,237 D   Common Stock, $0.01 par value 07/17/2008   M   8,658 A $ 20.6397 135,895 D   Common Stock, $0.01 par value 07/17/2008   M   9,212 A $ 20.6397 145,107 D   Common Stock, $0.01 par value 07/17/2008   M   1,510 A $ 20.6397 146,617 D   Common Stock, $0.01 par value 07/17/2008   M   805 A $ 22.0103 147,422 D   Common Stock, $0.01 par value 07/17/2008   M   1,384 A $ 23.0234 148,806 D   Common Stock, $0.01 par value 07/17/2008   M   1,259 A $ 18.822 150,065 D   Common Stock, $0.01 par value 07/17/2008   M   7,249 A $ 21.4938 157,314 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Employee Director Stock Option (Right to Buy)	$ 25.4519	07/17/2008		M			503	(1)	10/01/2009	Common Stock	503	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 21.2306	07/17/2008		M			6,947	(2)	12/14/2009	Common Stock	6,947	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 20.7961	07/17/2008		M			6,041	(3)	01/03/2010	Common Stock	6,041	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 23.2171	07/17/2008		M			1,057	(4)	04/03/2010	Common Stock	1,057	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 20.734	07/17/2008		M			705	(5)	07/03/2010	Common Stock	705	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 22.4101	07/17/2008		M			629	(6)	10/02/2010	Common Stock	629	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 21.541	07/17/2008		M			8,961	(7)	12/12/2010	Common Stock	8,961	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 23.2792	07/17/2008		M			1,158	(8)	01/02/2011	Common Stock	1,158	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 23.2792	07/17/2008		M			8,860	(8)	01/02/2011	Common Stock	8,860	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 23.1824	07/17/2008		M			6,141	(9)	02/27/2011	Common Stock	6,141	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 23.0433	07/17/2008		M			1,259	(10)	04/02/2011	Common Stock	1,259	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 23.1526	07/17/2008		M			629	(11)	07/02/2011	Common Stock	629	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 21.8713	07/17/2008		M			881	(12)	10/01/2011	Common Stock	881	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 20.6397	07/17/2008		M			8,658	(13)	01/02/2012	Common Stock	8,658	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 20.6397	07/17/2008		M			9,212	(13)	01/02/2012	Common Stock	9,212	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 20.6397	07/17/2008		M			1,510	(13)	01/02/2012	Common Stock	1,510	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 22.0103	07/17/2008		M			805	(14)	04/01/2012	Common Stock	805	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 23.0234	07/17/2008		M			1,384	(15)	07/01/2002	Common Stock	1,384	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 18.822	07/17/2008		M			1,259	(16)	10/01/2012	Common Stock	1,259	$ 0	0	D
Non-Employee Director Stock Option (Right to Buy)	$ 21.4938	07/17/2008		M			7,249	(17)	12/17/2012	Common Stock	7,249	$ 0	0	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GLUCKMAN VICTORIA BUYNISKI 3 GRANDIN LANE CINCINNATI, OH 45208	X

Signatures

Lee R. Mitau for Victoria Buyniski Gluckman		07/18/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The option vested in four equal annual installments beginning on October 1, 2000.
(2)	The option vested in four equal annual installments beginning on December 14, 2000.
(3)	The option vested in four equal annual installments beginning on January 3, 2001.
(4)	The option vested in four equal annual installments beginning on April 3, 2001.
(5)	The option vested in four equal annual installments beginning on July 3, 2001.
(6)	The option vested in four equal annual installments beginning on October 2, 2001.
(7)	The option vested in four equal annual installments beginning on December 12, 2001.
(8)	The option vested in four equal annual installments beginning on January 2, 2002.
(9)	The option vested in four equal annual installments beginning on February 27, 2002.
(10)	The option vested in four equal annual installments beginning on April 2, 2002.
(11)	The option vested in four equal annual installments beginning on July 2, 2002.
(12)	The option vested in four equal annual installments beginning on October 1, 2002.
(13)	The option vested in four equal annual installments beginning on January 2, 2003.
(14)	The option vested in four equal annual installments beginning on April 1, 2003.
(15)	The option vested in four equal annual installments beginning on July 1, 2003.
(16)	The option vested in four equal annual installments beginning on October 1, 2003.
(17)	The option vested in four equal annual installments beginning on December 17, 2003.

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