IBA Compliance Connection

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How much we can charge to respond to a subpoena? We typically charge what we would charge our customers for copies of statements — $5 per statement plus $40 per hour of staff time. We received a subpoena that is seeking information about a commercial loan, which will tie up a senior vice president’s time. Are we limited in what we can charge for copies and preparation time?

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Yes, we believe you are limited in what you can charge for copies and personnel costs when responding to a subpoena.

The Illinois Banking Act provides that banks must be reimbursed for the costs of responding to a subpoena. The Illinois Administrative Code includes specific rates of reimbursement for personnel costs ($20 per hour), reproduction costs (30 cents per exposure), and transportation costs (31.5 cents per mile), and states that all other costs must be reimbursed “at actual cost.”

Consequently, we believe you would be limited to charging 30 cents for each page of a financial statement and $20 per hour for your vice president’s time spent responding to the subpoena.

For resources related to our guidance, please see:

  • Illinois Banking Act, 205 ILCS 5/48.1(g) (“A bank shall be reimbursed for costs that are reasonably necessary and that have been directly incurred in searching for, reproducing, or transporting books, papers, records, or other data required or requested to be produced pursuant to a lawful subpoena, summons, warrant, citation to discover assets, or court order. The Commissioner shall determine the rates and conditions under which payment may be made.”)

(a) Personnel costs incurred in locating, retrieving, reproducing and preparing financial records shall be reimbursed at the rate of $20 per hour per person.

(b) Reproduction costs incurred in making photocopies of documents shall be reimbursed at 30 cents per exposure.Reproductions of microfilm, microfiche, photographs, films and other materials shall be reimbursed at actual cost.

(c) Transportation costs incurred in transporting bank personnel to locate and retrieve material, and to convey the material to the place of examination, shall be reimbursed at the rate of 31.5 cents per mile or, if a mail or courier service is used, at the actual cost of such service.

(d) All other costs, including, but not limited to, telephone calls, telegrams and shipping costs, incurred in searching for, reproducing and transporting data pursuant to a request for financial records, shall be reimbursed at actual cost.”)