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Treasury Secretary Timothy Geithner on Wednesday moved to extend the government's $700 billion bailout fund into October 2010 and pledged to deploy no more than $550 billion of it.

The government's $700 billion bailout of the financial system helped prevent an all-out panic last fall but hasn't met many of the targets Congress set out, a watchdog panel says.

The credibility of the government's $700 billion financial rescue program was damaged by claims a year ago that all of the initial banks receiving support were healthy, a new report contends.

The inspector general for the Treasury Department's $700 billion bailout fund said Thursday that he will review the decisions of General Motors and Chrysler to close a large portion of their auto dealerships as part of their restructuring plans.

Herbert Allison, the former head of troubled mortgage giant Fannie Mae, has been confirmed to oversee the government's $700 billion bank bailout program.

Capital One Financial Corp. says it repaid the $3.57 billion it received last fall as part of the government's $700 billion bank investment program.

State Street Corp. says it was among the banks to repay $2 billion it received last fall as part of the government's $700 billion bank investment program.

Bank of New York Mellon said Wednesday it repaid the $3 billion it received last fall as part of the government's $700 billion bank investment program.

Goldman Sachs Group says it has fully repaid the $10 billion it received last fall as part of the government's $700 billion bank bailout program.