California governor Gavin Newsom has signed into law a new bill that outlaws hidden junk fees. The Consumer Financial Protection Bureau estimates that Americans spend at least $29 billion a year on junk fees. AdvertisementAdvertisementThe nonprofit watchdog Consumer Reports estimated in 2019 — based on a survey of more than 2,000 US adults — that 85% of Americans have been charged hidden junk fees. President Joe Biden has made combating junk fees a key priority for his administration since 2022. Biden said in July that "folks are tired of being played for suckers" as he announced measures cracking down on junk fees in the rental housing market.

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Persons: Gavin Newsom, —, Sen, Bill Dodds, Nancy Skinner, Vicki Morwitz, Morwitz, Joe Biden, Biden Organizations: Consumer Financial, Service, NBC, SB, Consumer, Bureau, CBS, Columbia Business School Locations: California