Feds tell banks that aid will come with new conditions

02/24/2009 | Los Angeles Times (tiered subscription model)

The Treasury Department and federal regulators informed banks this week that government rescue money will include new conditions, such as the possibility that the funds could be converted into voting shares, giving the government increased influence. "I think it removes a lot of uncertainty. It lays out with a large degree of certainty [conditions] for providing additional equity to banks should economic conditions require it," said Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable.

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