Obama Administration Proposes Financial Crisis Responsibility Fee


Perhaps the biggest news in the financial world this week, overshadowing the announcements of exceptional bank profits, is the Financial Crisis Responsibility Fee (the “FCR Fee”) proposed yesterday by President Obama. In this Alert, we provide a description of the President’s proposal for the FCR Fee, a preliminary list of aspects of the proposed fee that require clarification and some potential reactions to the FCR Fee.

Overview of the FCR Fee

The FCR Fee will work as follows...

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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