Joe Biden on Wednesday delivered remarks on his administration’s actions to ‘protect consumers’ from hidden junk fees.
“Junk fees cost American families tens of billions of dollars each year and inhibit competition, hurting consumers, workers, small businesses, and entrepreneurs. Research shows that fees charged at the back-end of the buying process make it harder to comparison shop for the best deal and lead to consumers paying upward of twenty percent more. Junk fees also make it hard for honest businesses to compete, stifle innovation, and hurt small businesses.” the White House said.
Biden shuffled out to the Rose Garden and spoke for 10 minutes before disappearing again. He is all smiles as Hamas terrorists that he just funded hold Americans hostage in Israel.
“How much are your monthly bills, and after they’re all paid, how much do you have left for necessities? Is there enough left over just to give you a little bit of breathing room?” Biden said highlighting the failures of Bidenomics. Most Americans are living paycheck-to-paycheck – even six-figure earners are feeling the squeeze thanks to Joe Biden.
Joe Biden absurdly claimed, “We beat Big Pharma” before pausing his speech to berate the women in the front row.
“None of the women in the front row here have been around for more than two or three years, but some of the guys have been here for a hell of a long time…” Biden said.
WATCH:
Announcement on junk fee ban from the White House:
- The FTC is proposing a rule that, if finalized as proposed, would ban businesses from charging hidden and misleading fees and require them to show the full price up front. The rule would also require companies disclose up front whether fees are refundable. This would mean no more surprise resort fees at check out or unexpected service fees to buy a live event ticket. The rule would apply to industries across the economy, including event tickets, hotels and lodging, apartment rentals, car rentals, and more. Under the proposed rule, companies that fail to comply could face monetary penalties and have to provide refunds to consumers.
- The CFPB is taking action to require large banks and credit unions to provide basic information to consumers without charging fees—meaning no more fees for basic services like checking bank account balances, obtaining a payoff amount for a loan, or getting account information needed for applications.
- Later this month, the CFPB will propose a rule that, if finalized, would require financial companies to allow customers to safely, securely, and reliably send their banking transaction data to other companies and banks. The proposal would make it easier for people to break up with their bank, switch to banks with better offerings, and to manage accounts from multiple providers. This reform will ensure financial companies compete based on service quality and up-front pricing, deterring junk fees.
- The Department of Transportation (DOT) has secured significant commitments by major airlines to improve service. Previously, none of the 10 largest U.S. airlines guaranteed meals or hotels when they caused a cancellation or significant delay and no airline guaranteed that parents can sit with their children for free. Now, thanks to DOT’s efforts, 9 of the 10 largest airlines guarantee hotels, 10 airlines to guarantee meals, and 4 airlines guarantee fee-free family seating. Consumers can see what services airlines offer at FlightRights.gov.
- DOT has issued several proposals that, if finalized, would: (1) require airlines to promptly refund airline tickets when they cancel or significantly change a flight; (2) require refunds for services not delivered (like broken Wi-Fi or delayed bags), and (3) require fees to be disclosed up-front for checking a bag or changing or canceling a flight. DOT is also working on rule proposals that would ban family seating junk fees and would require airlines to compensate flyers when a flight is cancelled or delayed due to the airline’s fault.
