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billion in Troubled Asset Relief Programn money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announcedf its plans to redeekm the preferred stock issuedd tothe Treasury. Last it from the government todo so. U.S. Bank also told the Treasurhy it intends to repurchasethe 10-year warrant it had issued alonfg with the preferred “The redemption allows our compangy to return to operating from a positiojn of both independent strength and strategic said Richard Davis, the company’s CEO and chairman, in a statement. The Treasurh in May announced that U.S.
Bank whicy showed it would be able to ride out the economicc downturn without having to raiseemore capital. Davis has of the government’s capitalk purchase program. In February he calleds the program “lousy” and said the banking industr y was pressured to participate inthe program.
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