WASHINGTON —The Biden administration wants to cap most credit card late fees at $8 for a missed payment, with federal regulators set to propose a rule to that effect on Wednesday.
"These fees can be incredibly frustrating for typical Americans," said Brian Deese, director of the National Economic Council. "They cost consumers billions of dollars a year. They make it harder for people to comparison shop, but they also reduce competition.
"Junk fees have unfortunately become the norm...They're often charged for so-called services that a consumer never wanted and are set at levels far beyond the true costs," Chopra said. "Junk fees inflate prices and chip away at monthly budgets by obscuring part of the price from comparison shopping.
Berchtold, the president and CFO of Ticketmaster's parent company Live Nation Entertainment, defended his company, testifying that "industrial-scale ticket scalping" and an unprecedented number of bots were responsible for the large-scale problems.
Source: Law Daily Report (lawdailyreport.net)
garyleff '... or the additional fees ticket brokers, airlines and resorts tack onto customers' bills...'
Just make a credit card relief or home mortgage relief 🥲
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