Federal rule bans junk fees hidden in hotel, event ticket prices
3 months, 2 weeks ago

Federal rule bans junk fees hidden in hotel, event ticket prices

Salon  

Junk fees hidden in the price of hotels and tickets for live events would be banned under a final rule approved by the Federal Trade Commission on Tuesday. The rule requires certain companies to display the full price of a service or product upfront instead of notifying the buyer of the extra fees at the end of the checkout process. A statement from the FTC singled out “resort,” “convenience” and “service” fees that can make purchases unaffordable or force people look for cheaper alternatives. “People deserve to know up-front what they’re being asked to pay — without worrying that they’ll later be saddled with mysterious fees that they haven’t budgeted for and can’t avoid,” FTC Chair Lina M. Khan said in a statement.

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History of this topic

'Direct attack': GOP lawmaker proposes letting banks hike overdraft fees
1 month, 1 week ago

'Direct attack': GOP lawmaker proposes letting banks hike overdraft fees

Raw Story  

Republicans are moving forward with a resolution to nullify a Biden-era reform that protects against excessive overdraft fees when banking, Rolling Stone reported Tuesday, in what reporter Nikki McCann Ramirez described as a "direct attack on consumers." The rule in question, passed by the Consumer Financial Protection Bureau and part of a broader war by the Biden administration on so-called …

Donald Trump halts CFPB operations: What it means for consumers
1 month, 2 weeks ago

Donald Trump halts CFPB operations: What it means for consumers

India Today  

NEW YORK: The Consumer Financial Protection Bureau, which Congress established to monitor credit card companies, mortgage providers, debt collectors and other segments of the consumer finance industry, is the latest U.S. government agency to have its work halted by the Trump administration. Trump on Monday defended his administration’s efforts to reform the Consumer Financial Protection Bureau, saying the agency was …

A new FTC rule cracks down on 'junk' fees. Here's what to expect
3 months, 1 week ago

A new FTC rule cracks down on 'junk' fees. Here's what to expect

NPR  

A new FTC rule cracks down on 'junk' fees. Here's what to expect AYESHA RASCOE, HOST: In February 2023, President Biden promised in his State of the Union address to take on what he called junk fees, credit card late fees, bank overdraft fees. RASCOE: One point, you know, we should make clear up front is that this rule doesn't …

Event promoters, hotels and lodging sites soon will have to disclose extra fees up front
3 months, 1 week ago

Event promoters, hotels and lodging sites soon will have to disclose extra fees up front

Associated Press  

The Federal Trade Commission on Tuesday said it will soon require hotels, vacation rental platforms and live event promoters to disclose any fees up front when they list prices. The FTC said consumers often see advertised prices for hotel rooms, short-term rentals, and tickets to sporting events and concerts only to be surprised later by so-called “junk fees,” including resort …

Hidden ticket fees and vacation rental charges will be banned in America
Trending News
3 months, 2 weeks ago

Hidden ticket fees and vacation rental charges will be banned in America

CNN  

CNN — The Federal Trade Commission announced a final rule banning hotels and ticketing and short-term rental companies from including hidden junk fees in their total price on Tuesday. “People deserve to know up-front what they’re being asked to pay — without worrying that they’ll later be saddled with mysterious fees that they haven’t budgeted for and can’t avoid,” said …

Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees
Trending News
3 months, 2 weeks ago

Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees

Associated Press  

Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge. The rule is part of President Joe Biden administration’s campaign to reduce junk fees that hit consumers on everyday purchases, including banking services. Under the finalized rule from the Consumer Financial Protection Bureau that was announced …

Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees
3 months, 2 weeks ago

Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Some banks and banking trade …

The White House is cracking down on overdraft fees
3 months, 2 weeks ago

The White House is cracking down on overdraft fees

Associated Press  

NEW YORK — The Biden administration has finalized a rule limiting overdraft fees banks can charge, as part of the White House’s campaign to reduce junk fees that hit consumers on everyday purchases, including banking services. Under the finalized rule, banks will be able to choose from three options: they may charge a flat overdraft fee of $5, they may …

Overdraft fees to be limited under new federal rule
3 months, 2 weeks ago

Overdraft fees to be limited under new federal rule

Salon  

The Consumer Financial Protection Bureau has passed a rule limiting overdraft fees banks can charge, continuing the Biden administration's crackdown on junk fees that affect consumers on everyday purchases. “For far too long, the largest banks have exploited a legal loophole that has drained billions of dollars from Americans' deposit accounts,” Rohit Chopra, director of the Consumer Financial Protection Bureau, …

Court holds up Biden administration rule on airline fees while the carriers sue to kill it
8 months ago

Court holds up Biden administration rule on airline fees while the carriers sue to kill it

Associated Press  

NEW ORLEANS — Consumer advocates are criticizing an appeals court decision that blocks a new U.S. Transportation Department rule requiring airlines to more clearly disclose fees when they advertise prices for a flight. Circuit Court of Appeals in New Orleans said Monday the rule “likely exceeds” the agency’s authority “and will irreparably harm airlines.” The judges found the rule to …

Airlines are ordered to give full refunds instead of vouchers and to stop hiding fees
11 months, 1 week ago

Airlines are ordered to give full refunds instead of vouchers and to stop hiding fees

NPR  

Airlines are ordered to give full refunds instead of vouchers and to stop hiding fees Enlarge this image toggle caption Mario Tama/Getty Images Mario Tama/Getty Images WASHINGTON — In an effort to crack down on airlines that charge passengers steep fees to check bags and change flights, the U.S. Department of Transportation has announced new regulations aimed at expanding consumer …

‘Drip pricing’ set to be banned as part of online shopping reforms
1 year, 2 months ago

‘Drip pricing’ set to be banned as part of online shopping reforms

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. We are committed to ensuring information given to consumers …

Biden regulators target transaction-declined fees, considered another type of bank 'junk fee'
1 year, 2 months ago

Biden regulators target transaction-declined fees, considered another type of bank 'junk fee'

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Biden administration proposed banning …

Biden regulators target transaction-declined fees, considered another type of bank ‘junk fee’
1 year, 2 months ago

Biden regulators target transaction-declined fees, considered another type of bank ‘junk fee’

Associated Press  

NEW YORK — The Biden administration proposed banning another type of bank “junk fee” on Wednesday, targeting fees that are typically charged by banks when a transaction is declined in real time. “Banks should be competing to provide better products at lower costs, not innovating to impose extra fees for no value,” said CFPB Director Rohit Chopra in a statement. …

Column: The war on ‘junk fees’ is gaining ground, but the fight is not yet won
1 year, 3 months ago

Column: The war on ‘junk fees’ is gaining ground, but the fight is not yet won

LA Times  

Rohit Chopra, left, director of the Consumer Financial Protection Bureau, has been a leader in the Biden administration’s campaign against “junk fees.” “I talk to a lot of banks,” Rep. Dan Meuser told Rohit Chopra, director of the Consumer Financial Protection Bureau, “and they’re really not happy with your agency.” He urged Chopra to “be responsive to the clientele you’re …

Biden says the FTC’s proposed ban on junk fees will help families and ‘honest’ businesses
1 year, 5 months ago

Biden says the FTC’s proposed ban on junk fees will help families and ‘honest’ businesses

Associated Press  

WASHINGTON — President Joe Biden on Wednesday announced a proposed rule by the Federal Trade Commission to ban any hidden and bogus junk fees, which can mask the total cost of concert tickets, hotel rooms and utility bills. “These junk fees may not matter to the wealthy, but they sure matter to working folks in homes like the one I …

What you see is what you’ll pay: New law bans ‘junk’ fees on hotel bills, concert tickets, etc.
1 year, 5 months ago

What you see is what you’ll pay: New law bans ‘junk’ fees on hotel bills, concert tickets, etc.

LA Times  

Californians can soon say goodbye to so-called junk fees, those startling charges that appear in a transaction only when a customer is about to hit “purchase.” You know the ones: A hotel bill that ends with a vague “resort fee.” Or those concert tickets that double in price once it’s time to type in your credit card information. Gavin Newsom …

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