Obama Speeds Up Bank Repayment

Bailout

Updated Apr. 25, 2017 11:06AM EDT / Published Jan. 12, 2010 5:35PM EST

President Obama will announce Thursday the new plan to recoup losses from the Troubled Asset Relief Program, by imposing a fee on the country's largest financial firms. An official said that the proposal has been on the table since as early as August, as a way to speed up repayment before the law kicks into place, which wouldn't be for another four years. The fee will depend on the final cost of the TARP program, which isn't expected to exceed $120 billion. Financial lobbyists have opposed the move, saying it will stifle the economic recovery.

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Obama Speeds Up Bank Repayment