American Express-We Can Repay TARP

Of course they better hope the rules don't change!

June 3 (Bloomberg) -- American Express Co. Chief Executive Officer Kenneth Chenault said the credit-card company, the biggest in the U.S. by purchases, has met federal terms for repaying funds to the Troubled Asset Relief Program.

Chenault cited this week’s offering of common stock during a speech at an investor conference today. The lender sold $500 million of common stock to help repay the $3.4 billion obtained from the TARP bank rescue fund.