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JPMorgan has a favorite bank to play the return of consumer spending

US Bancorp, parent company of US Bank, in Salt Lake City, Utah.

George Frey / Bloomberg via Getty Images

Banks have jumped as investors bet on cyclical stocks for the economic recovery, and one bank stock will see a disproportionate boost following a rebound in credit card spending, according to JPMorgan.

The company has modernized US Bancorp to the overweight to neutrality on Thursday as part of its first quarter earnings overview, citing its disproportionate exposure to credit card fees.

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