Sun Bancorp is the sixth bank to give back bailout money to the United States federal government. The bank, which is located in Vineland, New Jersey, sent approximately $90 million back to the government after receiving it in the second week of 2009.
Combined, the money the six banks have returned the feds so far reportedly totals around $450 million. However, that is just a small drop in the bucket compared to the price of the bailout. Approximately $200 billion was given to companies in the banking industry as part of the federal financial rescue plan.
Although the exact motives for why …read more

The United States federal government has received $353 million from five banks. The money is repayment for bailout handouts that were given to banks throughout the country to keep the nation’s economy afloat. On top of that money, the five banks gave the feds dividends amounting to almost $6 million.
The main motivation for banks to repay the federal government is due to the fact that the feds are now taking a closer look at companies that received bailout money and are instituting harsher restrictions on how that money can be spent. A big reason for the tougher stance by the …read more