MALPB Fines and Fees
Application fees, fines and examination fees applicable to MALPBs and their holding companies:
APPLICATION AND ANNUAL SUPERVISION/REGISTRATION FEES
NOTE: All fees paid to the Department are non-refundable.
- MALPB Charter Application - $50,000;
- Application for Additional Location - $1,250;
- Approval of an MALPB Subsidiary - $1,000;
- Holding Company Formation/Acquisition Application - $10,000;
- Change-in-Control Application - $10,000.
Annual Supervision and Registration Fees:
- MALPB Annual Supervision Fee - $10,000;
- MALPB Annual Holding Company Registration Fee - $5,000, plus $1,000 for each non-MALPB subsidiary of the holding company (not to exceed $20,000).
FINES AND EXAMINATION FEES
As specifically set forth in the Department’s Rules, fines are imposed to ensure that MALPBs operate as specified by the Merchant Acquirer Limited Purpose Bank Act and the rules promulgated by the Department.
In addition to any fees imposed by third-party experts acting as special examiners, the Department is authorized to charge examination fees at the rate of $100 per examiner hour.