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The OCC plans to increase examination fees for the first time in nearly 20 years for institutions with over $40 billion in assets, a step the agency says is necessary because of its expanded role under the Dodd-Frank Act.
April 28 -
The Office of the Comptroller of the Currency is likely to make changes to its proposal outlining the "heightened expectations" the largest banks must face after the industry raised concerns that certain provisions could backfire.
April 15
WASHINGTON The Office of the Comptroller of the Currency on Wednesday issued a final rule increasing examination fees for large institutions.
Under the new rule, which was unchanged from an April proposal, federally chartered banks and thrifts with more than $40 billion in assets will be subject to a 14.5% hike in the marginal assessment rate. Growth in actual assessments will range from 0.32% to 14%, depending on an institution's size. The average increase in fees will be 12%.
The fee hike, which will become effective Aug. 8, stems from the agency's added responsibilities under the Dodd-Frank Act. Those include supervision of the nation's thrifts, which Dodd-Frank transferred to the OCC from the former Office of Thrift Supervision.
The OCC said there had been no fee increase for its institutions above $40 billion in assets between 1995 and 2013. Assessments had actually been lowered in 2008.
