Treasury To Use Auctions To Hasten Bank TARP Exits

Law360, New York (May 4, 2012, 3:09 PM EDT) -- The U.S. government plans to sell off the remaining stake it has in community banks that were part of the massive 2008 bailout, it said Thursday, just weeks after facing criticism for not helping those banks shake off government support.

In a shift from waiting for small banks to repay investments made through the Troubled Asset Relief Program, the U.S. Department of the Treasury said that it will auction off stakes in the 343 banks that still have significant government support. Most of those banks are...
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