Ten of the nation’s largest banks are set to return more than 34 percent of the TARP bail-out loans including $1.8 billion in interest.
The financial institutions, J.P. Morgan Chase, Goldman Sachs and Capital One, American Express and Morgan-Stanley among them, will pay back $68 billion of the $199 billion in taxpayer money, beginning as early as next week.
The decision is a milestone for the Obama administration’s financial rescue plan, reflecting new confidence that some large banks have returned to stable profitability.
(Read More in the Washington Post)