{"id":2075564,"date":"2023-10-22T04:07:04","date_gmt":"2023-10-22T08:07:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftcs-battle-against-junk-fees-gains-momentum\/"},"modified":"2023-10-22T04:10:49","modified_gmt":"2023-10-22T08:10:49","slug":"ftcs-battle-against-junk-fees-gains-momentum","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftcs-battle-against-junk-fees-gains-momentum\/","title":{"rendered":"FTC&#8217;s fight against &#8216;Junk Fees&#8217; gains traction."},"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\">14<\/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%2Fftcs-battle-against-junk-fees-gains-momentum%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=2075564&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--><blockquote>\n<h2>The FTC Takes Action Against Hidden Fees<\/h2>\n<p>The Federal Trade Commission (FTC) is cracking down on hidden fees, also known as\u200d junk fees, that are plaguing the \u2062U.S. economy. These unnecessary charges inflate costs \u2063without \u200cproviding any value, according to the FTC. In \u200ba\u200d recent statement, the commission highlighted how junk fees remain hidden \u2064until well into\u2062 the \u2062purchase process, leaving consumers blindsided.<\/p>\n<div class=\"my-5\">\n<h2>Related Stories<\/h2>\n<ul>\n<li>\n<h3>PM \u200dAlbanese \u200dSet for White House Talks With Biden<\/h3>\n<p>10\/20\/2023<\/p>\n<\/li>\n<li>\n<h3>Supreme Court Says Biden Admin Can Contact Big Tech Amid \u200dCensorship\u200c Allegations<\/h3>\n<p>10\/20\/2023<\/p>\n<\/li>\n<\/ul><\/div>\n<p>The FTC revealed that companies impose junk fees in various contexts, such as sneaking\u200d in hidden \u2064fees without\u2064 consumer consent, \u2064misrepresenting optional services as mandatory, and charging\u2062 for \u2064products or services with little\u2062 to no value. FTC Chair Lina\u2062 M. Khan expressed frustration over\u2062 these arbitrary fees, emphasizing that companies\u2064 should focus\u2062 on providing quality at the best price instead of exploiting consumers during \u2064a time of inflation.<\/p>\n<div class=\"my-5\">\n<h2>&#8216;It\u2019s Wrong&#8217;<\/h2>\n<p>President Joe Biden has also voiced \u2063his concerns about junk fees and expressed support for the FTC&#8217;s proposed rule. During an event at the White House, President Biden \u2062stated \u2062that the new rule\u2063 would ban hidden fees across the\u2064 economy and require companies to disclose all-in pricing upfront. He emphasized the importance of transparency\u200d and protecting consumers from paying \u200dup to\u2062 20 percent more due \u2063to hidden fees.<\/p>\n<\/p><\/div>\n<p>The FTC has opened the\u200d proposed rule to public comment, aiming to eliminate hidden\u200c fees and save consumers\u2062 billions of dollars annually. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftcs-battle-against-junk-fees-gains-momentum\/\" title=\"FTC's fight against 'Junk Fees' gains traction.\">commission received overwhelming support<\/a> from the public during the \u2064initial round of\u200d comments, \u200cwith 12,000 submissions in favor of \u200cthe measure. The rule targets unnecessary\u200d charges \u2064for worthless or fake products, unavoidable\u2062 charges\u2064 imposed on captive consumers, and surprise charges that inflate purchase\u200d prices.<\/p>\n<div class=\"my-5\">\n<h2>Initiatives\u200b by Other Federal Agencies<\/h2>\n<p>Other \u200cfederal agencies, \u2063including the Consumer Financial Protection Bureau (CFPB), Federal\u2063 Communications Commission (FCC), Department of Housing and Urban Development (HUD), and Department of Transportation (DOT), are collaborating \u200cwith the FTC to implement similar rules. These\u2062 efforts aim to protect \u200dfamilies and honest businesses from exploitative practices.<\/p>\n<\/p><\/div>\n<p>The\u2063 CFPB has also taken action against junk fees in\u2062 the financial industry, particularly overdraft \u200cfees and depositor fees. The\u200b FCC \u200cand DOT\u2062 have focused on ensuring\u2063 transparency in communications\u200b services and the airline industry, respectively. By addressing hidden fees, these agencies aim to empower consumers \u2063and \u2063promote fair competition.<\/p>\n<div class=\"my-5\">\n    <em>From <a href=\"https:\/\/www.ntd.com\/ftcs-battle-against-junk-fees-gains-momentum_947692.html\" target=\"_blank\" rel=\"noopener\">NTD\u2062 News<\/a><\/em>\n  <\/div>\n<\/blockquote>\n<p> <\/p>\n<h2> What actions is the FTC \u200ctaking to combat deceptive\u2063 practices, protect consumers\u2062 from unnecessary expenses, and ensure fair and transparent pricing<\/h2>\n<p><span>  Economic uncertainty.<\/p>\n<p>Hidden fees\u200c have become a pervasive issue in\u2062 the\u200c US\u200d economy, affecting consumers across various \u200dindustries. From banking and telecommunications to travel and retail, \u2062customers are being hit with charges that they had\u200c no knowledge of \u2063or consented to. \u2064The FTC aims to put an \u200cend to these unfair practices and \u200bprotect consumers from deceptive business tactics.<\/p>\n<p>One of the insidious ways in\u200b which junk fees are imposed \u200bis by hiding them\u2064 deep \u200bwithin the purchase process. Consumers are often presented with an appealing upfront cost, only to discover additional charges later on. This not only leads to frustration\u2062 and disappointment but also undermines trust in businesses.<\/p>\n<p>The FTC has \u2063also identified cases where companies misrepresent certain services as mandatory, deceiving customers into paying for \u200dsomething they do\u2063 not need or want. This tactic takes advantage of consumers&#8217; \u200black\u2062 of \u2063knowledge or understanding about a\u2064 particular product or \u200dservice, resulting in unnecessary \u200dexpenses.<\/p>\n<p>Moreover, companies have been \u200cfound to charge for products or\u2063 services that provide little to\u2062 no value. This\u200d is a clear\u2064 violation of fair and ethical business practices. Customers should \u200bbe able to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/your-air-fryer-is-spying-on-you-warns-ted-cruz-in-introducing-bipartisan-smart-tech-consumer-privacy-bill\/\" title=\"Ted Cruz warns: Your air fryer spies on you! Introducing a privacy bill to protect consumers from smart tech.\">make informed\u2064 decisions<\/a> about what they\u2064 are paying for and expect to receive \u2063value in return for their <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hate-being-spewed-in-the-name-of-patriotism-wapo-opinion-attacks-anthem-before-games-2\/\" title=\"\u2018Hate Being Spewed In The Name Of Patriotism\u2019: WaPo Opinion Attacks Anthem Before Games\">hard-earned money<\/a>.<\/p>\n<p>FTC Chair \u200bLina \u2063M. Khan \u200cemphasized the need for companies to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-second-round-of-direct-payments-worth-up-to-4555-arrives-in-two-days\/\" title=\"Social Security update: ,555 direct payments coming in two days.\">prioritize customer satisfaction<\/a> and\u200c fair pricing rather than \u200dexploiting consumers during these\u2064 challenging times. As the economy continues \u2062to recover from the impacts of the COVID-19 pandemic, it\u200b is\u200c essential for \u200dbusinesses to focus on building \u200ctrust \u200band providing quality products and services.<\/p>\n<p>To address the issue of hidden fees, the FTC has stepped up its enforcement actions and is actively \u2062holding companies \u200caccountable for their misleading practices. Through investigations and legal proceedings, the commission aims to ensure that\u200d consumers are \u2063not taken advantage of and that businesses adhere to fair and transparent pricing policies.<\/p>\n<p>In addition to\u200b regulatory efforts, the FTC is\u2062 also working to raise awareness \u200camong consumers about their rights \u2062and \u200dhow to identify and contest hidden\u2063 fees. Education and consumer empowerment play a crucial role in combating these unfair practices and fostering a more transparent\u2063 and responsible marketplace.<\/p>\n<p>In conclusion, hidden fees are an alarming \u2064problem that undermines fairness and transparency in the\u2063 US economy. The FTC&#8217;s intervention is\u2062 a significant step towards putting an \u200cend to these deceptive practices. By <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-announce-social-media-crackdown-citing-childrens-mental-health\/\" title=\"Biden to Announce Social Media Crackdown, Citing Children\u2019s Mental Health\">holding companies accountable<\/a>, raising awareness, and empowering consumers, the FTC is working towards creating a marketplace\u200b where customers\u200c can trust that the price they\u200c see is the price they pay.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FTC is considering a rule to combat hidden fees, known as junk fees, which are spreading across the US economy. These fees, deemed unnecessary and surprise charges, inflate costs without providing any value, according to the FTC&#8217;s statement on Friday.<\/p>\n","protected":false},"author":1763,"featured_media":2075565,"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":[543],"tags":[],"class_list":["post-2075564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"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\/2075564","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\/1763"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2075564"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2075564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2075565"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2075564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2075564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2075564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}