Treasury Doles Out $386M To 23 Banks

Full Story At CBS News

AP) The Treasury Department said Tuesday it has distributed another $386 million to 23 banks, the first awards from the federal bailout fund since President Barack Obama took office.

The department said the latest capital infusions went to banks in 16 states, bringing the total number of institutions that have been helped to 317.

The new distributions were made Friday and mark the first money from the $700 billion bailout fund distributed since Obama became president last week. Under the law that established the fund, the administration has to publicly disclose its funding actions within two business days after the money is disbursed.

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