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.
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