Obama plans to propose fee for top banks

01/13/2010 | NYTimes.com · Reuters · CNNMoney

President Barack Obama is set to announce today a proposal to assess a fee on large financial institutions to recoup money lost from the Troubled Asset Relief Program. The "financial crisis responsibility fee" would target financial institutions with more than $50 billion in assets, an administration official said. The fee would take effect after June 30, and it is estimated the assessment would raise $90 billion over 10 years, per the administration official.

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NYTimes.com · Reuters · CNNMoney

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