Tag Archives: junk fees

Thor Benson, Common Dreams As part of the Biden’s administration’s efforts to eliminate so-called “junk fees,” the Consumer Financial Protection Bureau has finalized a rule that would cap credit card late fees at $8. The average credit card late fee is $32, so the savings for consumers could be huge. …

Casey Quinlan The cost of overdrawing your bank account could ease considerably under a rule proposed last week by the Consumer Financial Protection Bureau. The proposed regulation is in line with a larger effort that the Biden administration has championed the past few years to crack down on “junk fees,” which are …

Bank of America, the second-largest bank in the United States, has been ordered to pay more than $100 million to customers and an additional $150 million in penalties for engaging in illegal practices. The Consumer Financial Protection Bureau (CFPB) conducted an investigation and found that the bank had harmed hundreds …

President Joe Biden announced on Thursday that several ticketing and travel companies in the United States are taking steps to eliminate hidden fees for buyers. This move is part of Biden’s plan to ban additional charges, known as “junk fees,” that are often added to travel, ticket, and banking transactions. …

Casey Quinlan, Michigan Advance President Joe Biden devoted 19 sentences of his State of the Union speech to “junk fees,” which includes credit card late fees, service fees for concert tickets and airplane seating preferences that he said strain families’ budgets. Biden did not mention the numerous and opaque fees …

Casey Quinlan, Nevada Current As Americans continue to struggle with high credit card rates, the Consumer Financial Protection Bureau has proposed a rule to help lessen some of their financial burden — in the form of lower late fees. The new rule would limit late fees to $8. Currently credit …

President Joe Biden on Wednesday announced that the federal consumer watchdog is cracking down on overdraft and depositor fees that often surprise Americans, deeming them unfair and likely violations of consumer protection laws. The move could save consumers more than $1 billion per year, Biden said. Some examples of these …