Five Banks Pay Off Bailout Funds Totaling $353 Million: More Banks to Follow Suit?

April 7th, 2009 [ Comments ]

For five US banks, their debt to the federal government has been paid in full. And with that, they have also freed themselves from the tightening restrictions that are now being imposed on recipient banks.

The Obama administration revealed Thursday that five banks which each received a portion of the $700 billion TARP funds have repaid the US government, giving back a total of $353 million plus $5.4 million in dividends.

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