U.S. Bank returns TARP money - South Florida Business Journal:

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billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslt announced its plans to redeem the preferred stock issued tothe Treasury. Last week, it from the governmentt to do so. U.S. Bank also told the Treasurg it intends to repurchasethe 10-year warranr it had issued along with the preferresd stock. “The redemption allows our companyu to return to operating from a position of both independenr strength andstrategic flexibility,” said Richard the company’s president, CEO and in a statement. The Treasury in May announcef that U.S.
Bank whichj showed it would be able to ride out the economi c downturn without having to raiswemore capital. Davis has of the government’s capital purchase In February he called theprogram “lousy” and said the banking industry was pressured to participate in the