How much money did JP Morgan Chase repay the US government for TARP funding?
J.P. Morgan Chase & Co., Goldman Sachs Group, Morgan Stanley and several other big U.S. banks said Wednesday that they repaid billions of dollars in government money they got when the industry had to be bailed out in the middle of last year’s financial crisis. Earlier this month, the Treasury Department gave 10 large financial institutions the go-ahead to repay $68 billion in government money, freeing them from limits on executive compensation and dividends. However, the industry isn’t out of the regulatory thicket completely. President Barack Obama unveiled proposals on Wednesday that could leave the financial-services industry more tightly regulated and less profitable. J.P. Morgan Chase (JPM) said Wednesday that it repaid the $25 billion it received under the U.S. Treasury’s Troubled Asset Relief Program, or TARP. In addition to the principal, the bank said it paid $795.1 million in dividends on the preferred stock held by the Treasury. J.P. Morgan said it also notified the Treasury
