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OCC's Hsu announces big cuts to bank assessment fees

Written on Sep 13, 2022

Acting Comptroller of the Currency Michael Hsu announced a dramatic cut in the semiannual assessments charged to regulated banks in an effort to level the playing field among community bank charters. 

In remarks to the Texas Bankers Association, Hsu said the OCC will make a 40% reduction in assessment fees on a bank's first $200 million in assets, and a 20% reduction on bank assets between $200 million and $20 billion. 

The reduction marks the fourth time in four years that the OCC has cut regulatory assessment fees that fund supervisory activity. The OCC cut assessment rates by 3% last year, and 10% in both 2020 and 2019.