Today, House Financial Services Committee Chairman Barney Frank (D-MA) released the following statement:

“In an interview on CNBC on Thursday, I was inaccurate in my description of the status of Citigroup’s repayment of the financial assistance it received under the TARP program. I said that Citigroup had not repaid its TARP funds.  That was partially inaccurate.  In December, Citigroup did retire the $20 billion it received from the Targeted Investment Program under TARP. However, unlike some institutions, the U.S. Government continues to own Citigroup common stock and warrants. I should have stated this more accurately.”

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