Fed Rule Hits Big Finance Cos. With $440M Supervision Bill

Law360, New York (August 16, 2013, 2:28 PM EDT) -- The Federal Reserve on Friday released a final rule that will see 70 large banks and other financial companies pay a total of $440 million to cover the cost of the central bank's enhanced supervision efforts.

The final rule establishing the process for setting annual assessment fees, approved in a 7-0 vote by the Fed's Board of Governors, sets out which domestic and foreign bank holding companies, securities holding companies and nonbank financial companies designated for enhanced Fed supervision will be expected to cover the costs...
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