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billion in Troubled Asset Relief Program mone y it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announces its plans to redeem the preferred stockk issued tothe Treasury. Last it from the government todo so. U.S. Bank also told the Treasuryt it intends to repurchasethe 10-year warrant it had issuexd along with the preferred stock. “The redemption allows our compan to return to operating from a positio n of both independent strength andstrategic flexibility,” said Richars Davis, the company’s president, CEO and in a statement. The Treasurt in May announced that U.S.
Bank which showed it woulr be able to ride out the economic downturn withoutg having to raisemore capital. Davis has of the government’ss capital purchase program. In February he calledr the program “lousy” and said the banking industry was pressurede to participate inthe program.
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