§ 747.605. Allowable fees and expenses.
293 words·~1 min read·
/us/cfr/t12/s§ 747.605·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as provided by § 747.604(b), awards will be based on rates customarily charged by persons engaged in the business of acting as attorneys, agents and expert witnesses, even if the services were made available without charge or at a reduced rate.
(b)No award under this subpart for the fee of an attorney or agent may exceed $75.00 per hour. No award to compensate an expert witness may exceed the highest rate at which NCUA is permitted to pay expert witnesses. However, an award may also include the reasonable expenses of the attorney, agent or witness as a separate item, if the attorney, agent or witness ordinarily charges clients separately for such expenses.
(c)In determining the reasonableness of the fee sought for an attorney, agent, or expert witness, the NCUA Board shall consider the following:
(1)If the attorney, agent, or expert witness is in private practice, his or her customary fee for like services, or, if he or she is an employee of the applicant, the fully allocated cost of the services;
(2)The prevailing rate for similar services in the community in which the attorney, agent, or expert witness ordinarily performs services;
(3)The time actually spent in the representation of the applicant; and
(4)Such other factors as may bear on the value of the services provided.
(d)The reasonable cost of any study, analysis, report, test, project, or similar matter prepared on behalf of the party may be awarded to the extent that the charge for the service does not exceed the prevailing rate for similar services, and the study or other matter was necessary for preparation of the applicant's case. [56 FR 37767, Aug. 8, 1991, as amended at 75 FR 34622, June 18, 2010]