Treasury's Stake In 12 TARP Banks Up For Auction
Law360, New York (July 23, 2012, 7:05 PM EDT) -- The U.S. Department of the Treasury plans to auction off its stake in 12 small banks that received bailout money from the 2008 Troubled Asset Relief Program, the agency announced Monday.
The Treasury Department began auctioning off preferred shares in small banks that received cash infusions under the Capital Purchase Program, a portion of TARP, in the spring. The policy represented a shift from the original Treasury Department plan to force largely small, community banks to pay back their Capital Purchase Program debt.
According to the announcement, the Treasury Department began offering shares in the 12 banks from Alabama, California, Colorado,...
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