In a recent speech, President Biden announced initiatives to finally crack down on excessive ‘junk fees’ affecting American consumers.
The so-called junk fees include hotel resort fees, bank overdraft fees, airline booking fees, concert processing fees, and even cable company fees. The president expressed that the deceptive fees often surprise consumers and his aim is to “provide families with more breathing room.”
Biden’s efforts to reduce costs for consumers echo his efforts to tackle inflation and bring down gas prices amid worries of a looming recession. It’s estimated that reducing or eliminating these fees, could save customers more than $1 billion.
Personally, I’m all for tackling these mysterious fees, especially those pesky concert processing fees which total as much as 78% of the ticket price these days. I would also like some answers on what exactly they are processing when the ticket is digital and on my phone but, alas, that’s a question for another day