Bank of America said late Wednesday that it would repay its entire $45 billion in government bailout money before the end of the year. The move should help the bank recruit a new chief executive by freeing it from government restrictions on executive pay at bailed-out companies.
“We appreciate the critical role that the U.S. government played last fall in helping to stabilize financial markets, and we are pleased to be able to fully repay the investment, with interest,” Kenneth D. Lewis, the bank’s current chief executive, said in a statement.
http://dealbook.blogs.nytimes.com/2009/12/02/bank-of-america-to-repay-45-billion-from-tarp/I believe this leaves Citigroup and Wells Fargo as the only major banks that have not announced repayment?
