Genworth: No InterBank deal; too late for bailout

RICHMOND, Va. – Insurer Genworth Financial said Thursday it is abandoning its effort to buy Minnesota-based InterBank because the Treasury Department says it’s too late for the company to be approved to participate in the government’s $700 billion financial rescue program. Genworth had said the agreement to buy InterBank was subject to it receiving approval to participate in the government program. But Treasury informed Genworth that the deadline set for approval by the…

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