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Less than two weeks after the Birminghanm banking giant was infusedwith $3.5 billion in TARP two jets were flown to West Virginias with Ritter and his family and frienc in tow. He spent four nights at the historifGreenbrier resort, according to a person familiar with his the WSJ reported. The round-tri flights likely cost Regionsabout $17,700, according to a calculation by Conklinb & de Decker Aviation Information, a consultinhg firm, the newspaper said. A Regionsa spokesman declined to comment on the trip or the cost estimatew but said all travel on companygjets “either for personal or businesa was within our policy.
” Recently, Regions has been hit with at least two lawsuits that raise the question about Ritter’a use of the company’s corporate jets for personao use. Regions, one of the top 20 banksa in the nation, was ordered to raised $2.5 billiom after failing the stress testes administered by thefederal government. Sincew the bank could likely sufferfrom $9.2 billion in loan lossew within the next two the Federal Reserve said it needesd $2.5 billion in additionao capital to prepare for a possiblew meltdown, given the worst-case scenario.
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