Member-only story
Is Biden Really Addressing Junk Fees?
Credit where credit is due.
It feels like more often than not, the news is just nothing but doom and gloom. Following it on a consistent basis can be taxing on mental health, and for young people in particular it’s easy to feel as though we’re consistently being failed by those in a position of power. That being said, I’m a big believer in giving credit where credit is due, and none other than President Joe Biden might be in need of some credit.
Donald Judd with CNN writes:
“President Joe Biden is expected to unveil new efforts to crack down on junk fees during an event at the White House Wednesday, while announcing $2 billion in savings and $140 million in consumer refunds from previous crackdowns on junk fees from the Consumer Financial Protection Bureau.
According to an administration fact sheet shared with CNN ahead of Wednesday’s announcement, the Federal Trade Commission will unveil a proposed rule that the Biden administration says would ban businesses from charging hidden or misleading fees and require companies to show full prices upfront, preventing event ticketing companies, hotels and lodging companies, apartment and car rental agencies, and more from levying surprise or unexpected service charges…”
