BofA to pay back bailout funds
China Daily | Updated: 2009-12-04 08:09
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A man leaves a Bank of America branch in New York. The bank's repayment may be the first in a wave of TARP repayments by major US lenders. Bloomberg News |
NEW YORK: Bank of America Corp (BofA) said it would repay $45 billion of taxpayer bailout funds, a move that could free the top US lender from pay curbs as it looks to hire a new CEO but also makes it more vulnerable to further economic shocks.
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