Banks returning TARP money

Bill Sullivan — Thu, 11 Jun 2009 14:16:39 +0000

On June 9, the federal government announced that it would allow 10 of the nation’s largest financial institutions to repay $68 billion in bailout money they had received from the Troubled Asset Relief Program (TARP). The move frees them from federal restrictions including limits on executive pay, dividend increases, and spending on corporate jets, conferences and retreats.

Here’s a list of the institutions who returned the money:

1. Goldman Sachs
2. J.P. Morgan Chase
3. Morgan Stanley
4. U.S. Bancorp
5. BB&T Corp.
6. American Express Co.
7. Capital One Financial Corp.
8. Bank of New York Mellon Corp.
9. State Street Corp.
10. Northern Trust Corp.

Source: The Wall Street Journal

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Banks returning TARP money