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Fee Games: Banks Must Pay Fed New $440M Oversight Fee

Monday, August 19, 2013 - 8:56 AM
Banks are more accustomed to collecting fees than paying them. That’s why Friday's new fee announcement from the Fed announcement may be not sitting well with financial firms.
ShorebreakShorebreak2,700 posts since
Apr 6, 2010
Rep Points: 14,636
1. Tuesday, August 20, 2013 - 4:35 PM
I noted one commentor said it was about time.  But, what people fail to realize is the banks will just find a way to pass this cost on to you and me.  The Gov't thinks they are helping, but they really aren't.

cd :O)
ChrisCDChrisCD70 posts since
Nov 18, 2010
Rep Points: 457
2. Tuesday, August 20, 2013 - 5:45 PM
Re:  ChrisD:  I totally agree with you.  It will be interesting to see what the banks do about customers like myself who are "fee free" due to our standing with them.  I don't think many will get to ride free after this.
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,152
3. Tuesday, August 20, 2013 - 8:30 PM
Interesting that this paragraph ends with each bank will pay roughly ??????????

This year though banks have until December 15 to pay and will be notified in late October of their share of the $440 million. Larger banks are expected to pay a larger portion but on average each bank will pay roughly



Ally6770Ally6770944 posts since
Jan 16, 2010
Rep Points: 2,745