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Biden to take on ‘junk fees’ as part of his plan to combat inflation
The Hill ^ | 10/26/2022 | ALEX GANGITANO

Posted on 10/26/2022 9:30:42 AM PDT by ChicagoConservative27

President Biden on Wednesday announced that the administration will take on so-called junk fees as a way to help bring down costs for Americans during high inflation.

The Consumer Financial Protection Bureau is taking new steps to eliminate billions in banking fees, hidden charges and added fees on cable bills, airline tickets and hotel bookings.

“Today my administration is announcing new actions to lower the costs of everyday living for American families, to put more money in the pockets of middle income and working class Americans, to hold big corporations accountable,” Biden said in remarks at the White House.

The president said these fees are “taking real money out of your pockets” and specifically pointed to surprise banking overdraft fees, hidden hotel booking fees and termination charges to st

(Excerpt) Read more at thehill.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: biden; bidenflation; bidenomics; bigdeal; cfpb; combat; crazyoldcoot; inflation; joeflation; junkfees; pedojoe
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Junk fees? Does that mean Hunters crack purchases??
1 posted on 10/26/2022 9:30:42 AM PDT by ChicagoConservative27
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To: ChicagoConservative27

Alrighty, problem solved.


2 posted on 10/26/2022 9:31:44 AM PDT by Huskrrrr (Alinsky, you magnificent Bastard, I read your book!)
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To: ChicagoConservative27

This is like cutting government spending by eliminating “waste fraud and abuse”, a perennial election time favorite that never makes any difference.


3 posted on 10/26/2022 9:33:04 AM PDT by hinckley buzzard ( Resist the narrative.. )
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To: ChicagoConservative27

That should bring gas down to $2.00/ gal. /s


4 posted on 10/26/2022 9:33:50 AM PDT by Travelin’ Right (Liberals ruin Everything)
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To: ChicagoConservative27

I thought one of the Courts just declared this agency unconstitutional?


5 posted on 10/26/2022 9:34:35 AM PDT by imabadboy99
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To: ChicagoConservative27

Most of the junk fees I see added are tax related.


6 posted on 10/26/2022 9:34:37 AM PDT by PK1991 ( )
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To: ChicagoConservative27

The Consumer Financial Protection Bureau
/\

I thought this was found by a court to be unconstitutional recently ?

Notice it’s
private business fees

and not federal fees they want gone.


7 posted on 10/26/2022 9:36:34 AM PDT by cuz1961 (USCGR Veteran )
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To: ChicagoConservative27

So without these “junk fees”, businesses will provide the same service for less cost? I don’t think so.

Either they will just raise their regular prices back to match what they were charging with the “junk fees” included, or they will reduce services.


8 posted on 10/26/2022 9:37:48 AM PDT by Boogieman
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To: imabadboy99

I thought one of the Courts just declared this agency unconstitutional?

/\

I read about it here, did a search and couldn’t find it.


9 posted on 10/26/2022 9:37:49 AM PDT by cuz1961 (USCGR Veteran )
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To: PK1991

Yep, it’s usually a way of telling the consumer “we don’t want to charge this much but the government forced us to”.

Now they’ll still charge it but they will not be able to tell the consumers why.


10 posted on 10/26/2022 9:38:55 AM PDT by Boogieman
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To: cuz1961

They rule on the fly.

The law is what they claim it is
at that MOMENT
and is fluid to fit their want.

They are bullies, thieves and criminals imho.


11 posted on 10/26/2022 9:40:57 AM PDT by cuz1961 (USCGR Veteran )
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To: ChicagoConservative27

This could actually be a good thing, but I’ll believe it when I see it. Personally, I think the Dems are genetically incapable of lowering the price on anything.


12 posted on 10/26/2022 9:43:00 AM PDT by rbg81
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To: cuz1961

Reprobate
Outlaws
Grooming
Unethical
Entities


13 posted on 10/26/2022 9:43:10 AM PDT by cuz1961 (USCGR Veteran )
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To: ChicagoConservative27
The president last month called on the White House Competition Council to look at companies that are using complicated algorithms to hide fees and to make it clear that it’s illegal to charge people if a check bounces or to issue surprise overdraft fees if a bank is slow to process charge.

Many of those 'fees' are in the terms of service.

14 posted on 10/26/2022 9:44:09 AM PDT by EBH ( 1776-2021 May God Save Us.)
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To: ChicagoConservative27

Except for taxes charged by the gubment, or the fees wrapped into cellphone/internet bills, I don’t pay junk fees.


15 posted on 10/26/2022 9:47:14 AM PDT by moovova
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To: ChicagoConservative27

Babylon Bee????


16 posted on 10/26/2022 9:48:36 AM PDT by Hattie
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To: imabadboy99

In brief, the court ruled that the CFPB was unconstitutional because it was not funded by periodic congressional appropriations.

The CFPB is funded through the Federal Reserve System, but only to a certain level, beyond which it must request additional money through Congress. Most experts agree that this arrangement is constitutional under the Appropriations Clause because the CFPB must ask Congress for any money it receives out of the Treasury, and these experts point to several other federal agencies that operate under similar arrangements, including the FDIC. But these experts did not reckon with the Fifth Circuit’s wrecking ball.

https://www.esquire.com/news-politics/politics/a41765865/consumer-financial-protection-bureau-unconstitutional/


17 posted on 10/26/2022 9:48:57 AM PDT by EBH ( 1776-2021 May God Save Us.)
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Comment #18 Removed by Moderator

To: ChicagoConservative27

Will that include taxes falsely labeled “fees”?


19 posted on 10/26/2022 9:53:46 AM PDT by G Larry (Population Control means Killing Billions, not "limiting growth".)
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To: moovova

What about the Al Gore tax on your telephone service?


20 posted on 10/26/2022 9:54:00 AM PDT by Mogger
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