Wells Fargo & Company said it will redeem the $25 billion of series D preferred stock issued to the U.S. Treasury in October 2008 under the government’s Troubled Asset Relief Program (TARP), upon successful completion of a $10.4 billion common stock offering.
The company's CEO said Wells Fargo is "now we’re ready to fully repay TARP in a way that serves the interests of the U.S. taxpayer, as well as our customers, team members and investors."
Dec 15 · 10:20:00 AM · Source: Company News Release
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by Larry Etter
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