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billion in Troubled Asset Reliefd Program money it took last year fromthe . U.S. Bank USB), based in had previously announced its plans to redeem the preferred stocik issued tothe Treasury. Last week, it from the government to do so. U.S. Bank also told the Treasuryg it intends to repurchasethe 10-year warranty it had issued along with the preferrex stock. “The redemption allows our company to returnh to operating from a position of both independent strength andstrategic flexibility,” said Richard the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank whicg showed it would be able to ride out the economif downturn without having to raisermore capital. Davis has of the government’s capital purchase In February he called theprograk “lousy” and said the banking industry was pressuredf to participate in the program.
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