{"id":2063220,"date":"2023-10-11T10:57:17","date_gmt":"2023-10-11T14:57:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-live-joe-biden-to-speak-about-protecting-consumers-from-hidden-junk-fees\/"},"modified":"2023-10-11T11:02:54","modified_gmt":"2023-10-11T15:02:54","slug":"watch-live-joe-biden-to-speak-about-protecting-consumers-from-hidden-junk-fees","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-live-joe-biden-to-speak-about-protecting-consumers-from-hidden-junk-fees\/","title":{"rendered":"LIVE: Joe Biden addressing consumer protection against undisclosed fees"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwatch-live-joe-biden-to-speak-about-protecting-consumers-from-hidden-junk-fees%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2063220&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>President\u2062 Biden Takes Action\u200b to Ban Junk Fees<\/h2>\n<p>President\u200b Joe Biden is set to make a groundbreaking announcement regarding his administration&#8217;s plan to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-makes-a-futile-last-ditch-effort-to-calm-americans-about-inflation\/\" title=\"Biden Makes a Futile Last-Ditch Effort to Calm Americans About Inflation\">eliminate junk fees<\/a>.\u2062 These efforts\u200c aim \u200dto protect consumers and \u200cpromote\u200b transparency in various sectors.<\/p>\n<h3>Requiring Upfront Disclosure<\/h3>\n<p>As part of this plan, businesses \u2062like ticket sellers will be mandated to disclose all \u2064mandatory fees upfront. This means that consumers will have a clear understanding\u2062 of the total cost before making a \u200dpurchase, empowering them \u2064to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oregon-governor-encourages-people-to-call-police-on-neighbors-violating-covid-orders\/\" title=\"Oregon Governor Encourages People To Call Police On Neighbors Violating COVID Orders\">make informed decisions<\/a>.<\/p>\n<h3>Cracking Down on \u200cExcessive Fees<\/h3>\n<p>Banks and large credit \u200cunions will also\u2062 face restrictions\u2063 on implementing excessive \u2063fees. Specifically, they will be prohibited from charging\u200c consumers excessive fees for basic \u200dinformation, such as account \u2064balances. This measure \u200bensures that consumers \u2062are not burdened with unfair\u200d charges.<\/p>\n<blockquote>\n<p>&#8220;Businesses would have\u200d to include all mandatory \u200dfees when telling consumers a price, making it easier for consumers to comparison shop for the lowest\u2064 price.&#8221; &#8211; Federal Trade Commission<\/p>\n<\/blockquote>\n<p>The Federal Trade Commission has proposed \u2063these rule changes, emphasizing the importance of \u200cincluding all mandatory fees in the price provided to consumers. This will enable consumers to easily compare prices and find \u2063the best deals.<\/p>\n<p>In \u200ccollaboration with the Consumer Financial\u200c Protection Bureau, President Biden\u2063 is \u200cexpected to announce \u200dsignificant savings of $2\u200b billion. Additionally, an extra $140\u200b million will be returned \u2064to consumers\u2064 who have been affected by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-live-joe-biden-to-speak-about-protecting-consumers-from-hidden-junk-fees\/\" title=\"LIVE: Joe Biden addressing consumer protection against undisclosed fees\">previous illegal junk fees<\/a> in the banking \u2062industry.<\/p>\n<p>Stay tuned for more \u200dupdates on President Biden&#8217;s efforts to protect consumers and promote fairness\u2064 in various sectors.<\/p>\n<p> <\/p>\n<h2> What is the significance of banning junk fees in terms of protecting consumers \u2063and promoting transparency \u2063in various sectors?<\/h2>\n<p><span>  President Joe Biden is taking action to ban junk fees in an\u200d effort to \u200dprotect consumers and promote transparency in various sectors. This groundbreaking announcement \u2063marks a significant step towards\u2062 empowering consumers and ensuring fair\u2062 practices in the market.<\/p>\n<p>One of the key aspects of this plan is the requirement for \u2063businesses, such as ticket sellers, to disclose\u200c all \u200dmandatory fees upfront. This means that consumers will have a \u200cclear understanding of the total cost before\u200c making a\u2064 purchase, enabling \u200bthem to make informed decisions.\u2064 This move towards upfront disclosure is essential in preventing hidden costs and\u2062 deceptive pricing strategies.<\/p>\n<p>In addition, President\u200d Biden&#8217;s plan includes cracking down \u200bon excessive fees imposed by banks and\u2063 large\u200d credit unions. These financial \u200dinstitutions will be subject to restrictions on charging consumers excessive fees for basic\u2063 information, such as account \u200bbalances. This measure aims to protect consumers from unfair charges \u2064and ensure \u2064that they are not \u200dburdened by unnecessary fees.<\/p>\n<p>The Federal Trade Commission has proposed these rule changes, arguing\u200c that businesses must include all mandatory fees when \u2062providing prices to consumers. This will make\u200b it easier for\u2064 consumers to compare prices and find\u2063 the best deals. By emphasizing the\u2064 importance of transparency, the FTC hopes to create a fair marketplace\u2062 where consumers can make \u200cinformed choices.<\/p>\n<p>Collaborating with the Consumer Financial Protection Bureau,\u200d President Biden is expected to announce significant \u200csavings of $2 billion. This signifies \u200dthe potential \u200cimpact these \u2064actions can have on protecting consumers&#8217; financial interests. Additionally, an\u200d extra $140 million\u2063 will be returned to consumers who have been affected by previous illegal junk \u2063fees in the banking\u2063 industry, \u200chighlighting the commitment to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/courts-across-the-country-are-letting-murderers-off-the-hook-in-the-name-of-racial-equity\/\" title=\"Courts free killers for racial fairness.\">rectify past wrongs<\/a>.<\/p>\n<p>These efforts to ban junk fees are part of President Biden&#8217;s broader agenda to protect consumers and promote fairness in various sectors. As consumers, it is important to stay informed about these developments and\u2064 support initiatives \u2064that prioritize transparency and consumer rights. Stay tuned for more updates on President Biden&#8217;s efforts to protect consumers and promote fairness in the \u2064marketplace.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden will unveil measures to ban junk fees, including upfront disclosure of mandatory fees by businesses like ticket sellers. Excessive fees on basic information, such as account balances, will also be prohibited for banks and large credit unions. WHIPLASH: Biden&#8217;s new immigration actions face legal challenges.<\/p>\n","protected":false},"author":1,"featured_media":2063221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2063220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2063220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2063220"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2063220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2063221"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2063220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2063220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2063220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}