Hidden Junk Fees Belong in the Trash
WASHINGTON, D.C. – The U.S. Consumer Financial Protection Bureau and the Federal Trade Commission today announced a set of proposed rules that would require businesses to show the full price upfront on a wide range of transactions and let bank customers to access information about their accounts without paying a fee – an escalation of the administration’s ongoing effort to fight junk fees that cost consumers billions each year. Susan Harley, managing director of Public Citizen’s Congress Watch division, released the following statement:
“Today’s announcement makes it clear that hidden junk fees, which harm competition and make it more difficult for families to make ends meet, will finally go where they belong: in the trash. Once again, the Biden administration has stepped up for consumers. Ending junk fees will allow Americans to make better informed decisions about how to spend their hard-earned money.”