Citigroup Inc. said Wednesday that it repaid $20 billion it got from the Troubled Asset Relief Program (TARP) last year, freeing the giant bank from government limits on compensation.
Citi also ended a large loss-sharing agreement it struck with the government. To repay TARP, Citi said it repurchased $20 billion of TARP trust preferred securities.
Also Wednesday, Wells Fargo & Co. said that it had completed its repayment of $25 billion in TARP funds.
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