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billion in Troubled Asset Relief Program moneu it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announcer its plans to redeem the preferred stocmk issued tothe Treasury. Last week, it from the governmenr to do so. U.S. Bank also told the Treasuru it intends to repurchasethe 10-yeaer warrant it had issued alon with the preferred stock. “The redemptioh allows our company to return to operatingy from a position of both independent strength and strategic flexibility,” said Richard Davis, the company’s CEO and chairman, in a statement. The Treasur in May announced that U.S.
Bank which showed it would be able to ride out the economic downtur n without having to raisedmore capital. Davis has of the government’es capital purchase program. In Februaryh he called the program “lousy” and said the bankinyg industry was pressured to participatr inthe program.
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