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Four Banks Return Bailout Cash
March 31, 6:04 p.m.: This post has been updated.
Since October, more than $300 billion has flowed from the Treasury Department to more than 500 banks, AIG and the auto companies. Now some of it is starting to come back.
Today, four banks announced that they have reimbursed Treasury's investments. Louisiana's IberiaBank returned $90 million, Signature Bank of New York returned $120 million, Indiana's Old National Bancorp returned $100 million, and California's Bank of Marin returned $28 million today.
Treasury Doles out $395 Million More
Another week, another couple hundred million. According to information released today (pdf), the Treasury Department invested $395 million in 28 more banks on Friday.
That brings us to 473 different financial institutions to get a piece of the bailout. See our running tally of each and every bank (and auto and insurance company, etc.) here.
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Financial Reform Amendment Would Address Loan Mod Problems with ‘Homeowner Advocate’ – 5/7
Disorganization at Banks Causing Mistaken Foreclosures – 5/5
Treasury, Ahem, Clarifies Goals for the Mortgage Mod Program – 3/25
TARP Watchdog Launches Audit of Bailout Contracts – 2/9
Chase Denied Loan Mods for Now Forbidden Reason—Homeowners in Limbo – 2/4
Homeowners Say Banks Not Following Rules for Loan Modifications – 1/14
Bailout Breakdown: Losses Likely to Be Larger Than Treasury Estimates – 12/11
Homeowners Getting Blame for Lack of Loan Mods, but Evidence Points to Banks and Servicers, Too – 12/9
We're tracking where the bailout money is going. Our lead bailout reporter – and blogger – is ProPublica's Paul Kiel. Lead developer is Dan Nguyen.
- Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.
- Our bailout recipient list tracks the companies to which Treasury has committed money.
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