ETFC: Non-TARP receiptiant been asked to boost capital
Story: E*Trade pressured to raise capital; reports loss
NEW YORK (Reuters) - E*Trade Financial Corp, (NasdaqGS:ETFC - News) a U.S. retail brokerage, said it is facing regulatory pressure to boost capital as it posted its seventh straight quarterly loss, and its shares fell 25 percent in after-hours trade.
More than 500 U.S. banks have already received funds under that program. It is unusual for the government to ask a TARP applicant to raise capital without offering relief.
E-Trade does not belong to "too big to fail" camp, nor it has powerful lobbyists to get TARP money.