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Bank Of America Paying Dividends To Feds |
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Written by Ellen Reinhardt
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(CHARLOTTE)- Bank of America's Board of Directors has authorized approximately $713 million in dividend payments to the U.S. government under the Troubled Asset Relief Program (TARP). The federal government has invested $15 billion in Bank of America under the Capital Purchase Program of TARP. The feds also invested $10 billion in Merrill Lynch, which Bank of America has purchased.
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Last Updated ( Tuesday, 07 July 2009 )
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