Yet another life insurer is out of the Tarp picture. Not long after Genworth, MetLife and Protective Life announced bowing out of the ring for relief funds due to various circumstances, The Phoenix Cos. Inc. announced yesterday that it will no longer seek bailout funds under the U.S. Treasury Department's program.
The insurer's plans fell through after American Sterling Bank, a federal stock form savings bank headquartered in Sugar Creek, Missourithe bank it had been approved to purchase in order to qualify for the programwas closed by the federal Office of Thrift Supervision last Friday.
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