Treasury officials are expected to unveil Tuesday that up to ten of the biggest banks have approval to repay their Troubled Asset Relief Program funds, people familiar with the matter said.
The Treasury Department expects an initial payback from the nation's largest banks of at least $50 billion in bailout funds this is double the amount the government initially expected to receive.
The group, which will likely include JPMorgan Chase Goldman Sachs, Capital One and State Street, passed the government's stress test in May and were told they didn't need to raise additional capital.
A handful of community banks are also expected to soon repay their TARP funds. Already, about 22 banks have taken steps to repay TARP, returning about $1.8 billion to the government.
Critics of the TARP program say allowing some banks to pay the government back earlier than others could set up a dynamic where some banks are viewed as clear winners and others as clear losers.