Biden administration takes aim at junk fees
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 11 October 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
This morning, President Biden is set to announce new efforts to reduce fees consumers are charged on tickets purchases, utility bills, hotel charges and more. We dig into how regulators are looking to tackle hidden junk fees. Plus, Birkenstock — the sandal everyone loves to hate — walks onto the New York Stock Exchange today. And later: Walgreens pharmacists protest difficult working conditions.
Transcript
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| 1:11.6 | We live in the era of the surcharge, the extra fees just because they can, but there's a pushback |
| 1:18.0 | underway. I'm David Brancache, this morning President Biden is set to announce new efforts to |
| 1:23.0 | reduce fees, consumers are charged on ticket purchases, utility bills and beyond. Perhaps you |
| 1:29.6 | were acquainted with the extra 25 to $45 a night extra destination or resort fee on the hotel bill. |
| 1:36.8 | Regulators are preparing new rules requiring upfront pricing, no hidden fees and banks are on |
| 1:42.1 | notice to provide basic information at no cost or face fees and reverse, known as government fines. |
| 1:48.8 | The idea behind the new rules is to make it easier to comparison shop. |
| 1:53.0 | Federal Trade Commission Chair Lena Khan, in a call with reporters, said the public has sent |
| 1:57.6 | in thousands of examples of deceptive pricing. One person shared how junk fees inflated the cost |
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