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Search resuls for: "Hannah Lang Doina Chiacu"


2 mentions found


☆ Biden targets hidden 'junk fees' from banks, cable TV, concert tickets
  + stars: | 2022-10-26 | by ( Hannah Lang Doina Chiacu Trevor Hunnicutt | Hannah Lang | Doina Chiacu | ) www.reuters.com   time to read: +3 min
"These are junk fees," President Joe Biden told reporters at the Eisenhower Executive Office Building. The White House said the move could eliminate billions in banking fees. The agency said that both fees likely violate the Consumer Financial Protection Act's prohibition on unfair fees that are unavoidable to consumers. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019. He cited processing fees for concert tickets and resort fees at hotels as two items his administration is examining.
☆ Biden welcomes crackdown on 'junk' banking fees
  + stars: | 2022-10-26 | by ( Hannah Lang Doina Chiacu | Hannah Lang | Doina Chiacu | ) www.reuters.com   time to read: +2 min
"These are junk fees. The agency said that both fees likely violate the Consumer Financial Protection Act's prohibition on unfair fees that are unavoidable to consumers. In a fact sheet, the White House noted that bank overdraft and non-sufficient funds fees accounted for an estimated $15.5 billion in revenue for banks in 2019. He cited processing fees for concert tickets and resort fees at hotels as two items his administration is examining. There's tens of billions of dollars and other junk fees across the economy that I'm directing my administration to reduce or eliminate," Biden said.
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