Treasury proposes levying fee on banks to pay for watchdog

12/29/2011 | Wall Street Journal, The

The Treasury Department has proposed a fee on major financial institutions, including some large foreign banks, to cover the cost of the new Financial Stability Oversight Council and other expenses related to the Dodd-Frank Act. U.S. bank holding companies with $50 billion or more in total consolidated assets, and nonbank institutions under Federal Reserve oversight, would have to pay the semiannual fees. Foreign banks with U.S. operations of at least $50 billion in assets would, too.

View Full Article in:

Wall Street Journal, The

Published in Brief: