Four Banks Have Paid Back TARP Funds
While you might think GREAT - the effect may be less money for loans and tighter restrictions on borrowing as well.
The story:
The story:
Signature Bank of New York; Old National Bancorp of Evansville, Ind.; Iberiabank of Lafayette, La., and Bank of Marin Bancorp of Novato, Calif. — said they had bought back a total of $338 million in their preferred shares, which had been sold to the government in the fall under the Troubled Asset Relief Program, or TARP, in exchange for capital.From the New York Times "Dealbook" blog. The story has the details which basically said these banks "business model" was affected by the new law enacted in February. Furthermore, the banks did not feel it necessary to continue to retain the funds. We Shall See.

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