FDIC raising fees on banks, adds emergency fee

[Joanne98]

WASHINGTON (AP) -- Federal regulators are raising the fees paid by U.S. banks and thrifts, and levying an emergency premium to rebuild a deposit insurance fund depleted by a cascade of bank failures.

The Federal Insurance Deposit Corp. says it now expects bank failures will cost the insurance fund around $65 billion through 2013, up from an earlier estimate of $40 billion.

The FDIC says the economic crisis, which has caused dozens of recent bank failures and the insurance fund to drop to its lowest level in a quarter-century, warranted extending the plan to rebuild the insurance fund from five years to seven.

http://finance.yahoo.com/news/FDIC-raising-fees-on-banks-apf-14492541.html

[TechBear_Seattle]

1. The banks, in turn, pass these fees on to account holders

Retroactively, of course. You think you have $200 in your checking account? That will be $220 with the new fees. Oh, and your account is now overdrawn, that will be a $45 penalty.