Huntington National Bank 2011 Annual Report Download - page 25

We also must comply with anti-money laundering, customer privacy, and consumer protection statutes and
regulations as well as corporate governance, accounting, and reporting requirements.
The USA Patriot Act of 2001 and its related regulations require insured depository institutions, broker-
dealers, and certain other financial institutions to have policies, procedures, and controls to detect, prevent, and
report money laundering and terrorist financing. The statute and its regulations also provide for information
sharing, subject to conditions, between federal law enforcement agencies and financial institutions, as well as
among financial institutions, for counter-terrorism purposes. Federal banking regulators are required, when
reviewing bank holding company acquisition and bank merger applications, to take into account the effectiveness
of the anti-money laundering activities of the applicants.
Pursuant to Title V of the Gramm-Leach-Bliley Act, we, like all other financial institutions, are required to:
• provide notice to our customers regarding privacy policies and practices,
• inform our customers regarding the conditions under which their nonpublic personal information may be
disclosed to nonaffiliated third parties, and
• give our customers an option to prevent certain disclosure of such information to nonaffiliated third
parties.
Under the Fair and Accurate Credit Transactions Act of 2003, our customers may also opt-out of certain
information sharing between and among us and our affiliates. We are also subject, in connection with our lending
and deposit-taking activities, to numerous federal and state laws aimed at protecting consumers, including the
Home Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Equal Credit Opportunity Act,
the Truth in Lending Act, the Fair Credit Reporting Act, the Truth in Savings Act, the Electronic Funds Transfer
Act, and the Expedited Funds Availability Act.
The Sarbanes-Oxley Act of 2002 imposed new or revised corporate governance, accounting, and reporting
requirements on us. In addition to a requirement that chief executive officers and chief financial officers certify
financial statements in writing, the statute imposed requirements affecting, among other matters, the composition
and activities of audit committees, disclosures relating to corporate insiders and insider transactions, code of
ethics, and the effectiveness of internal controls over financial reporting.
In 2008, we sold TARP Capital and a warrant to purchase shares of common stock to the Treasury
pursuant to the CPP under TARP. We repurchased the TARP Capital in the 2010 fourth quarter and our
warrant in the 2011 first quarter.
On December 19, 2010, we sold $920.0 million of our common stock and $300.0 million of subordinated
debt in public offerings. On December 22, 2010, these proceeds, along with other available funds, were used to
complete the repurchase of $1.4 billion of our TARP Capital. On January 19, 2011, we repurchased the warrant
for our common stock associated with our participation in the TARP CPP for $49.1 million, or $2.08 for each of
the 23.6 million common shares to which the Treasury was entitled. Prior to this repurchase, we were in
compliance with all TARP standards, restrictions, and dividend payment limitations. Because of the repurchase
of our TARP Capital, we are no longer subject to the TARP-related restrictions on dividends, stock repurchases,
or executive compensation.
Available Information
This information may be read and copied at the Public Reference Room of the SEC at 100 F Street, N.E.,
Washington, D.C. 20549. You can obtain information on the operation of the Public Reference Room by calling
the SEC at 1-800-SEC-0330. The SEC also maintains an Internet web site that contains reports, proxy statements,
and other information about issuers, like us, who file electronically with the SEC. The address of the site is
http://www.sec.gov. The reports and other information filed by us with the SEC are also available at our Internet
web site. The address of the site is http://www.huntington.com. Except as specifically incorporated by reference
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