Biden Unveils New Action on ‘Junk Fees’ to Counter Rising Costs
- Agency proposal to require businesses show full-price upfront
- CFPB action to bar banks from charging for basic information
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President Joe Biden announced a new rule that would require businesses to show consumers the full price of goods and services upfront, calling it “the most comprehensive action” his administration has taken yet on hidden or confusing charges.
“These junk fees can add up to hundreds of dollars weighing down family budgets, making it harder to pay family bills,” Biden said Wednesday at the White House. “These junk fees may not matter to the wealthy, but they sure do matter to working folks in homes like the one I grew up in.”