91 Banks Miss May TARP Payments

More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations. The statistics, compiled by SNL Financial LC from U.S. Treasury data, showed 91 banks and thrifts skipped the May dividend payment under the TARP. It was the first missed payment for 23 of the banks; for the others, it was at least their second miss. – Reuters

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