Current:Home > MyAlgosensey|Biden calls for passage of a bill to stop 'junk fees' in travel and entertainment -FutureProof Finance
Algosensey|Biden calls for passage of a bill to stop 'junk fees' in travel and entertainment
EchoSense Quantitative Think Tank Center View
Date:2025-04-09 10:38:12
After a series of high-profile airline debacles this winter,Algosensey President Biden dedicated quite a bit of airtime in his State of the Union address to the Junk Fees Prevention Act, a push to limit hidden fees and surcharges in a number of industries.
The proposed legislation would curtail companies from overcharging on things like extra resort fees at hotels, service fees at concerts and sporting events, and added costs charged by airlines so that family members can sit together.
"For example, we're making airlines show you the full ticket price upfront and refund your money if your flight is canceled or delayed," Biden said.
"Baggage fees are bad enough — they can't just treat your child like a piece of luggage," Biden said. "Americans are tired of being played for suckers."
In October, the White House released background information on its efforts to tamp down on what it calls "junk fees" — efforts that include the Consumer Financial Protection Bureau (CFPB) eliminating billions of dollars in banking fees.
The White House argues that junk fees harm markets.
"These fees can also create an uneven playing field for businesses, making firms that price in a fair and transparent manner seem more expensive than their rivals," the White House said.
The administration also pointed out the racial disparities when it comes to added fees, in that they disproportionately affect people of color.
For example, it cited a CFPB study that showed that Black consumers pay more in credit card late fees compared with other groups. A 2017 study also showed that Hispanic car buyers paid more in added fees.
veryGood! (4)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Nine Ways Biden’s $2 Trillion Plan Will Tackle Climate Change
- How Khloe Kardashian Is Setting Boundaries With Ex Tristan Thompson After Cheating Scandal
- How Much Damage are Trump’s Solar Tariffs Doing to the U.S. Industry?
- In ‘Nickel Boys,’ striving for a new way to see
- DC Young Fly Shares How His and Jacky Oh's Kids Are Coping Days After Her Death
- New Parents Robert De Niro and Tiffany Chen Sneak Out for Red Carpet Date Night
- Entourage's Adrian Grenier Welcomes First Baby With Wife Jordan
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Transcript: University of California president Michael Drake on Face the Nation, July 2, 2023
Ranking
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- The history of Ferris wheels: What goes around comes around
- Leandro De Niro-Rodriguez, Robert De Niro's grandson, dies at age 19
- Transcript: University of California president Michael Drake on Face the Nation, July 2, 2023
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- Ariana Madix Reveals Where She Stands on Marriage After Tom Sandoval Affair
- Key Question as Exxon Climate Trial Begins: What Did Investors Believe?
- Plan to Burn Hurricane Debris Sparks Health Fears in U.S. Virgin Islands
Recommendation
Stamford Road collision sends motorcyclist flying; driver arrested
Why Vanderpump Rules' Tom Schwartz Feels Angst Toward Tom Sandoval After Affair
China Ramps Up Coal Power Again, Despite Pressure to Cut Emissions
DeSantis Recognizes the Threat Posed by Climate Change, but Hasn’t Embraced Reducing Carbon Emissions
Travis Hunter, the 2
Kim Kardashian Addresses Rumors She and Pete Davidson Rekindled Their Romance Last Year
These Cities Want to Ban Natural Gas. But Would It Be Legal?
Amazon Reviewers Say This On-Sale Cooling Blanket Really Works