"Frustrated with #airlines that charge passengers steep fees to check bags and change flights, #PresidentBiden last fall embarked on a campaign to crack down on the practice — and force companies to show the full price of #travel before people pay for their #tickets.
Fliers rejoiced...
Since then, the #Biden administration has broadened its efforts to expose or eliminate #JunkFees throughout the #economy "
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
"Behind the scenes, these #corporations have fought vigorously to thwart even the most basic rules that would require them to be more transparent about #HiddenCharges ...
The fees together may cost #Americans at least $64 billion annually, according to a rough #WhiteHouse estimate, underscoring its efforts to deliver #financial relief to #families grappling with high prices."
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
#Biden #Economy #Economics #Policy #Politics #USPol #USA #News
"For #Biden, the regulatory push marks one facet of a broader battle against soaring #prices, three years after the #coronavirus #pandemic sent the cost of groceries, gas, rents & other goods soaring. The administration views some of those price spikes as the result of #corporate #profiteering, as companies...
charge consumers for services they do not want, need or expect to pay for."
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
#Democrats #Biden #Economics #Finance #Policy #Politics #USPol #USA #News
"the FTC unveiled a proposal that would require hotels, landlords, ticket brokers & other companies to disclose extra charges up front to consumers.
“Consumers have become fed up with these hidden fees,” said Samuel Levine, the director of the Bureau of Consumer Protection at the #FTC. “If a consumer is led to believe something costs $10, and it costs $20, they’ve been misled.”
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
#Democrats #Biden #Economics #Finance #Business #Policy #Politics #USPol #News
"The announcement drew sharp rebukes from a wide array of industries, many of which have sought to block the #watchdog agency’s efforts...
A similar backlash has greeted the Consumer Financial Protection Bureau over its push to cut credit card #LateFees. Consumers that fall behind on their #bills can face a penalty as high as $41 per month"
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
#Democrats #Biden #Economics #Finance #Policy #Politics #USPol #USA #News
"Tens of thousands of credit card holders have cheered the bureau since it unveiled its plans, which arrived on the heels of its efforts to limit bank overdraft fees & penalize companies... for surprising their customers w/ unexpected charges.
...financial institutions quickly mounted a vigorous defense, with some arguing it would pose a “moral hazard” if cardholders were not penalized for lateness."
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
#US #Democrats #Biden #Finance #Economics #Politics #USPol #USA #News
"The #CFPB expects to finalize its credit card fee limit early next year. In the meantime, the vociferous opposition has underscored a harsh reality: Even the most #popular acts of #government threaten to become mired in intractable #legal fights, potentially delaying or denying financial relief to #Americans.
“Consumers might not benefit while the issue is in litigation, which can last for years,” said John Breyault"
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
"Amid a torrent of legal threats, #Biden has repeatedly called on #Congress to pass a comprehensive bill that sets the rules for when & how companies can charge extra fees. But even some of the more #popular, bipartisan efforts to promote price transparency have faltered in an ever-divided, heavily lobbied #Capitol...
Biden has tried... to pressure companies into changing their practices even without new legislation."
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
"The #WhiteHouse has reserved most of its ire for top #airlines, lambasting them for a raft of fees that #Biden has described as costly and unfair... the president explicitly blasted major carriers for charging #families extra to sit next to each other, prompting companies including American, Alaska and Frontier to end the practice soon after."
https://www.washingtonpost.com/business/2023/11/19/companies-lobbyists-fight-junk-fees/
#Travel #Finance #Democrats #Policy #Politics #USPol #USA #News
Zhi Zhu 🕸️