Source: Cato Institute
bvy Ryan Bourne & Sophia Bagley
“Over the past year, the Biden administration has furthered its efforts to curb ‘junk fees.’ As we’ve noted, the definition of junk fees is a somewhat moveable feast and could more aptly be described as any fee the administration thinks customers might dislike or find annoying. Nonetheless, regulations against them continue pouring down from government agencies. Some states have followed suit, introducing legislation to ban ‘junk fees,’ with California passing a bill in October 2023. Among those fees that Biden isn’t keen on are telecom companies’ early termination fees, as well as overdraft fees and credit card late payment fees in financial services. … It may come as a surprise then that governments themselves employ similar fees and charges in their own operations.” (04/18/24)
https://www.cato.org/commentary/us-government-hypocrisy-junk-fees