The Wall Street Journal has a news article with some detail on how some banks are looking to government for guidance even after they've repaid TARP money: "U.S. Bancorp has repaid its TARP money, but CEO Richard Davis nonetheless checked with Fed regulators in December to make sure it would be all right for the Minneapolis-based bank to raise its dividend. 'We are still awaiting this guidance,' Mr. Davis said in a statement announcing that the bank would retain its dividend level for now. Bank of America Corp. also has repaid its aid, freeing itself from the condition lenders hate most about the bailouts: Treasury oversight of executive pay. Even so, it sought the Treasury's advice on a pay package before hiring a new chief executive."
Banks Defer to Washington