BB&T and US Bancorp join the TARP pay back bandwagon


A few more big banks announced they have bought back preferred shares they sold to the government as part of its financial rescue program. U.S. Bancorp (USB) and BB&T (BBT) joined Morgan Stanley (MS), Goldman Sachs (GS) and JPMorgan Chase (JPM) in repaying bailout funds today.

U.S. Bancorp, which received $6.6 billion, and BB&T, which got $3.1 billion, were both found not to need additional capital after regulators' stress tests last month.

Originally published