Banks Return $68 Billion in CPP Funds
Ten of the industry’s largest banks yesterday repaid a total of $68 billion in Capital Purchase Program funds to the Treasury Department, according to press reports. The Treasury had given approval for all 10 to repay the funds last week. The institutions are American Express, Bank of New York Mellon, BB&T, Capital One, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Northern Trust, State Street and U.S. Bancorp. Combined with repayments from other institutions, Treasury has received about $70 billion in repayments from CPP participants. More than 600 banks nationwide have participated in the CPP, representing $199 billion in investments. ... More
PRESIDENT OBAMA OUTLINES HIS PLANS FOR REGULATORY REFORM
President Obama outlined his plans for regulatory reform of the nation’s financial system today in an afternoon press conference at the White House. The President offered a recap of key events that led the U.S. economy to where it is today and stressed his belief that providing more transparent rules of the road from a regulatory standpoint will promote a more vibrant free market system. Key points of the President’s regulatory reform plan include: ... More
VBA Annual Convention
The 116th VBA Annual Convention will take place at The Homestead from June 21-24, 2009. Please click here for the registration form and more information on the Convention. We hope to see you there!
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