Why Is Joe Biden Targeting the 'Junk Fees' Issue?
Junk fees "decrease market competition, increase consumer and business costs, and harm the most vulnerable Americans."
Two trash charge practices that the Consumer Financial Protection Bureau claims are likely unfair and illegal have been advised to halt.
According to the CFPB, if financial institutions follow the advice, Americans might save billions of dollars.
They are unfair and disproportionately harm underprivileged Americans.
Junk Fees help large corporations. not shoppers. nor families that work. That has changed, though.
It makes the case that unnecessary fees make it more difficult to compare prices, which causes Americans to overpay.