Ten Banks Begin Government Fund Payback

June 17, 2009

US (ChattahBox) – Ten banks have begun paying back $68 billion of the $700 billion dollar funds given in the Troubled Asset Relief Program.

Among the ten banks that have been authorized to repay the investments are Goldman Sachs, Morgan Stanely, Bank of New York Mellencorp, US Bancorp, JP Morgan Chase & Co., BB&T Corp, Northern Trust Corp., Bank of America, State Street Corp. American Express Co., and Capital One Financial Corp.

Each bank has been required to gather then billions in funds through public means, legally and without the help of the government.

There is no word yet on further paybacks that may be approved in the coming months.


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