U.S. Bank returns TARP money - Atlanta Business Chronicle:

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billion in Troubled Asset Relief Program mone y it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslgy announced its plans to redeem the preferred stock issued tothe Treasury. Last it from the government todo so. U.S. Bank also told the Treasurt it intends to repurchasethe 10-yeatr warrant it had issued along with the preferred stock. “The redemptiob allows our company to return to operating from a position of both independent strength and strategic saidRichard Davis, the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank whicb showed it would be able to ride out the economivc downturn without having to raise more Davis has ofthe government’s capital purchase program. In February he calledx the program “lousy” and said the bankingv industry was pressured to participate inthe program.