Life Insurer Genworth Financial Misses TARP Deadline

Life insurer Genworth Financial Inc. (GNW), was informed Thursday by the U.S. Department of the Treasury that the deadline it set for approval by the Office of Thrift Supervision (OTS) of Genworth’s application to become a savings and loan holding company passed before OTS completed its review of Genworth’s application and Treasury will not extend the deadline.

Genworth was one of several life insurers that agreed to acquire  thrifts late last year to qualify for the Capital Purchase Program, part of TARP.

The co. will report first quarter operating results in early May. [via PRNewswire]

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Your email address will not be published.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.