Update: Here is the official press release from BofA:
Bank of America today announced that it will repay U.S. taxpayers their entire $45 billion investment provided under the Troubled Asset Relief Program (TARP). The repayment will be made after the completion of a securities offering.
Earlier: CNBC is reporting that BofA is set to repay its $45 billion in TARP cash, and that it will raise capital in the next few days.
This is likely Ken Lewis’s last act as CEO, as de-yoking itself will allow a new CEO to come in and start fresh.