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billion in Troubled Asset Relief Program mone y it took last year fromthe . U.S. Bank (NYSE: based in Minneapolis, had previously announcesd its plans to redeem the preferred stock issued tothe Treasury. Last it from the government todo so. U.S. Bank also told the Treasurg it intends to repurchasethe 10-year warrant it had issued along with the preferred stock. “The redemption allows our companhy to return to operating from a positiobn of both independent strength andstrategi flexibility,” said Richard Davis, the company’s president, CEO and in a statement. The Treasury in May announced that U.S.
Bank whic showed it would be able to ride out the economixc downturn without having to raise more Davis has ofthe government’s capital purchase In February he called the prograkm “lousy” and said the banking industr was pressured to participate in the program.
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