National News

Obama administration’s budget doubles fee for large banks

The 32 banks in the United States with assets exceeding $50 billion would be required to collectively pay $61 billion over the next 10 years if the president’s $3.4 trillion budget is passed by Congress. The administration said the fee, more than double the $30 billion fee the administration proposed a year ago, would partly go to offset the cost of the mortgage refinancing plan which the president announced in his third State of the Union address. The budget projects a $1 . . .

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