Financial Crisis Responsibility Fee

DEFINITION of 'Financial Crisis Responsibility Fee'

A tax proposed in 2010 to be levied on financial firms that received money from the Troubled Asset Relief Program (TARP). The Financial Crisis Responsibility Fee would continue to be used until the United States recoups the costs from stabilizing Wall Street during the 2007-2010 financial crisis.

BREAKING DOWN 'Financial Crisis Responsibility Fee'

The Financial Crisis Responsibility Fee is designed to be levied on the highly-leveraged firms considered to be at the root of the 2007-2010 financial crisis, and will mostly likely affect larger financial firms.

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RELATED FAQS
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    TARP - or the Troubled Asset Relief Program - is a government program created in response to the subprime mortgage crisis ... Read Answer >>
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    Read about the major federal responses to the financial crisis of 2008, such as the Dodd-Frank Wall Street Reform Act and ... Read Answer >>
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