Posted 3/5/2024, 10:00:00 AM
Biden Administration Announces Sweeping Efforts to Save Americans Billions by Cracking Down on Junk Fees
- President Biden launched a Strike Force to crack down on unfair and illegal pricing by corporations
- The Consumer Financial Protection Bureau (CFPB) finalized a rule to slash credit card late fees from $32 to $8, saving consumers $10 billion a year
- A new report shows that Biden administration efforts to eliminate junk fees will save Americans over $20 billion annually
- The Federal Communications Commission (FCC) proposed a rule to ban "bulk billing" arrangements that impose fees for unnecessary services
- The Department of Agriculture finalized a rule to protect farmers and ranchers from deceptive contracts and retaliatory practices by processing companies