Regions Financial Corp. said Wednesday it has repaid $3.5 billion received during the 2008 financial crisis, the largest outstanding bailout owed by a bank.
The Treasury Department says the government has now been paid back $337 billion of the $415 billion it lent financial institutions and automakers during the crisis under the Troubled Asset Relief Program.
Regions is paying back the government, in part, with proceeds from its $1.2 billion sale of Morgan Keegan & Co., which it sold this week to Raymond James Financial.