JPMorgan Chase Wants To Repay Bailout Money

JPMorgan Chase, Morgan Stanley and Goldman Sachs are seeking permission to repay government bailout funds, says Reuters.

The banks declined to comment, but Reuters says sources told them that they’ve all submitted applications to repay the TARP money.

Earlier Tuesday, JPMorgan Chief Executive James Dimon told shareholders he expects regulators will let a few strong banks repay TARP funds within weeks.

“We believe we can and should be able to repay TARP,” Dimon said during remarks at his bank’s annual meeting. “We believe the government will allow a few well-capitalized banks to repay TARP in the next couple of weeks.”

Banks discuss TARP repayment with U.S.: Fed official [Reuters]
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