Fees on concert tickets, air fares, hotels and other so-called junk fees cost Americans tens of billions of dollars every year, often obscuring the full price of purchases from consumers, top economic experts will say at the White House on Tuesday.
“They take real money out of the pockets of families, and they can distort competition in many markets,” Lael Brainard, director of the National Economic Council, said in comments prepared for delivery at a panel discussion spotlighting President Joe Biden’s call on industries and regulators to cut junk fees.
related investing news
Biden is pushing Congress to enact the Junk Fees Prevention Act — a first step in cracking down on extraneous surcharges attached to purchases like concert tickets, vehicle rentals and hotel reservations. The…