Financials to bear cost of greater supervision

|About: Financial Select Sector ... (XLF)|By:, SA News Editor

The Fed approves a final rule requiring 70 financial companies to pony up $440M annually for the cost of expanded central bank supervision.

The Dodd-Frank act not only mandated new regulatory oversight of banks, it required the banks to pay for the expansion. The assessment applies only to those companies with more than $50B in assets.

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