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U.S. Treasury extends TARP application permit
WASHINGTON, Jan 8 (Reuters) - The U.S. Treasury Department said on Thursday it will give regulators two extra weeks to approve thrift and bank holding company applications and so effectively extend the time for some firms to seek rescue funds. 'We have given the regulators until January 15 to finish processing any holding company and thrift applications that were not completed by (December 31) for applicants wishing to participate in (the capital purchase program),' the Treasury said in a statement. The decision means that any firms that applied for bank or thrift status in order to access rescue funds will not be disqualified because their charter was not approved in time. At the end of the year, Chrysler Financial sought an industrial loan charter which, if approved, would expand its access to federal funds. Chrysler Chief Executive Bob Nardelli also said in December that the automaker's finance arm had applied for Troubled Asset Relief Program funds. (Reporting by Patrick Rucker and Karey Wutkowski; Editing by Dan Grebler) Keywords: FINANCIAL/TARP ([email][email protected][/email]; +1-202-310-5474; Reuters Messaging: [email][email protected][/email]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.