Bank of America Corporation (NYSE:BAC) has paid the Treasury Department $45 billion to repay the government for the Troubled Asset Relief Program (TARP). The company made the payment after it completed its securities offering earning $19.29 billion. $190 million was also paid to the government for accrued dividends.
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Bank of America Corporation offers a range of banking and non banking financial services through its banking subsidiaries and non banking subsidiaries in the United States. The bank has 6,100 banking centers and 18,700 automated teller machines. It acquired Merrill Lynch & Co on January 1, 2009, and Countrywide Financial Corporation on July 1, 2008.
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