The U.S. Department of the Treasury reports that it has recovered more than $252 billion in funds it had provided banks through the Troubled Asset Relief Program. The latest repayment came from Buffalo, N.Y.-based M&T Bank, which repurchased $370 million in TARP Capital Purchase Program shares and an additional $330 million of the shares in connection with its acquisition of Wilmington Trust. Treasury had invested $245 billion through various TARP programs, meaning a $7 billion profit for taxpayers.
Click here to read the release from the Department of the Treasury.