Results tagged “fees”

Beginning in February, Citibank will start charging all account holders $7.50 each time their monthly balance dips below $1,500. In a move the Post dubs "Really Citi Treament," the bank will stop waiving low balance fees for customers who have direct deposit or conduct two bill payments online each month. According to Citibank, it's not punishment but a reward: "We did so to make them more simple and straightforward, by recognizing and rewarding customers for maintaining their balances with Citibank." But a Citibank manager acknowledged the fees — which could total $90 per year — were high, "Some are regular working folk who are trying hard to make ends meet and to pay their bills. Fifteen hundred dollars is a lot of money. Many don't have that kind of balance in their accounts." more ›

Now that we solved that whole tax credit deficit problem, there's a new worry for the filmmakers who want to point their lens at New York City. Crain's reports that "the latest shock to the industry is a plan by the city to charge the largest fees in the nation for filming in its buildings [$3,200/day]. The Mayor's film office is also drawing up plans to charge for its famous free permits. Even more troubling, the city's tax incentive program is out of money and in the process of being scaled back, and the state is in negotiations over whether to renew its tax incentives." Well, that's an exhausting list. more ›

New rates for things like driver's licenses and registration fees from the NY State Department of Motor Vehicles went into effect yesterday. All over NY State, the standard driver's license fee is now $64.50—up from $50, but in NYC and surrounding counties drivers will have to pay $80.50, because those areas are helping bail out the MTA. Registration fee-wise, a typical passenger vehicle will cost $55 (up from $44), but in the NYC-area, it'll be $105. Republican legislators are using the high fees to show how much Governor Paterson has raised taxes, but Paterson said he'd consider reducing them if the GOP can find revenue elsewhere, "I'd be happy to entertain it but they are not just going to be able to get up at a news conference and act shrill. They are going to have to tell us where they can close the gap." more ›

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lawyers? According to law professor Lynn LoPucki who spoke to the Daily News about corporate bankruptcies, "The lawyers and all the other professionals who work on the case get paid first. The system deliberately makes the old creditors wait - sometimes for two or three years - while payday for the new creditors comes once a month." So while the now-bankrupt Lehman Brothers is selling off assets like their corporate jet for almost $25 million, LoPucki tells the News that legal and professional fees may be as high as $1.4 billion, "with Weil Gotshal & Manges, lawyers for the debtor, snaring about $209 million, and Milbank, Tweed, Hadley & McCloy, counsel to the creditors, getting some $58 million." Lawyers, FTW? more ›

Oh, the wacky world of municipal agency billing! The New York City Housing Authority, the city agency which manages the city's public housing, pays the city $200 million in fees for services including water, trash, and police protection. The NYCHA also has a deficit of $170 million, and the NY Times looks at the issues involved. To city officials, these fees are small relative to what they could really be charged. To others, it's crazy that the city is forcing an agency with financial problems to pay up, especially when services are being cut back. more ›