Citi, Wells Fargo are Wrestling with the Government Over TARP Repayment

Citigroup (C) and Wells Fargo (WFC) are wrestling with the U.S. government over how much capital the banks will be required to raise to exit the Troubled Asset Relief Program, according to people familiar with the situation.

The disagreements are related to last week’s announcement by the Treasury Department that Bank of America Corp. won approval to repay its $45 billion in federal aid. The Charlotte, N.C., bank sold about $19 billion in common stock late Thursday as part of its repayment strategy.

Read the whole story at WSJ »

Create Content With AI

Try TradingView For Free

Risk Our Money Not Yours | Get 50% Off Any Account

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.