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billion in Troubled Asset Relief Program moneyy it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslyg announced its plans to redeem the preferrex stock issued tothe Treasury. Last week, it from the governmentr to do so. U.S. Bank also told the Treasurhy it intends to repurchasethe 10-year warrant it had issuer along with the preferred stock. “The redemption allows our company to returnh to operating from a positionh of both independent strengtb andstrategic flexibility,” said Richared Davis, the company’s president, CEO and in a statement. The Treasury in May announced that U.S.
Bank whicnh showed it would be able to ride out the economic downturn without having to raise more Davis has ofthe government’s capitak purchase program. In February he called the program “lousy” and said the banking industry was pressured to participatw inthe program.
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