Today’s Supreme Court ruling is an unmistakable win for American consumers. Since President Obama and I created it in the wake of the Great Recession, the Consumer Financial Protection Bureau (CFPB) has worked to protect consumers from abusive practices by lenders, servicers, and special interests, and has lowered costs for hardworking families by going after junk fees. Under my Administration, the…
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Remarks as Prepared for Delivery by NEC Director Lael Brainard on the Economic Case for Junk Fees Policies
Hello everyone and welcome to today’s panel discussion on the economic case for why the President is taking on junk fees on behalf of working Americans. Excited to hear from our great group of panelists. Junk fees are those sneaky fees that are hidden from consumers when they are shopping for the best price, and…
Statement from President Joe Biden on Proposed FCC All-in Pricing Rule
My Administration’s top priority is lowering the cost of living for the middle class, and that includes cracking down on companies’ use of junk fees to hide true costs from families, who end up paying more as a result. Today, the Federal Communications Commission (FCC), under the leadership of Chairwoman Jessica Rosenworcel, proposed a new rule…
Remarks by President Biden on Protecting Consumers from Hidden Junk Fees
South Court AuditoriumEisenhower Executive Office Building 2:16 P.M. EDT THE PRESIDENT: Before I begin, I want to thank everyone involved in reaching a tentative agreement at our ports on the West Coast. This deal shows collective bargaining works. When employers and workers come together to agree on a deal that works for both of them,…
President Biden Recognizes Actions by Private Sector Ticketing and Travel Companies to Eliminate Hidden Junk Fees and Provide Millions of Customers with Transparent Pricing
Companies Agree to Provide Millions of Consumers with the Full Price Up Front, Eliminating Hidden Costs and Saving Families Money Today, four months after he called out junk fees in his State of the Union and nine months after he first called for action to crack down on hidden fees to lower costs for consumers,…
FACT SHEET: Biden-Harris Administration Takes New Action to Crack Down on Junk Fees in Higher Education
Reforms would save students and borrowers billions in unnecessary fees and improve the college and loan repayment experience. Today, the Biden-Harris Administration is announcing new steps to crack down on hidden junk fees as part of President Biden’s agenda to lower costs for students and families paying for college. Junk fees are hidden costs or…
Remarks as Prepared for Delivery by NEC Director Lael Brainard on Protecting Consumers at the National Consumer League Trumpeter Awards
I want to express my appreciation to the National Consumer League (NCL) for the important work you do on behalf of consumers. I also want to thank you for recognizing the Biden-Harris Administration’s leadership in fighting for American consumers and workers. NCL has a distinguished 124-year history of fighting for protections for consumers and fair…
Readout of the Fifth Meeting of the White House Competition Council
Yesterday, the President convened the White House Competition Council to mark the two-year anniversary of his Executive Order on Promoting Competition in the American Economy and to announce new initiatives to support healthy competition, lower costs, and crack down on hidden junk fees. The Competition Council drives the Administration’s whole-of-government effort to restore competition and coordinate progress…
Readout of White House Panel on the Economic Case for the President’s Initiative on Junk Fees
Today, the White House convened a bipartisan panel of leading scholars and business leaders to discuss the economic case in support of the Administration’s efforts to crack down on junk fees. The panelists gave remarks and participated in a moderated discussion with an audience of economists and policy advisors from 16 federal agencies, describing how…
FACT SHEET: Biden-Harris Administration Announces Rules to Deliver Automatic Refunds and Protect Consumers from Surprise Junk Fees in Air Travel
Newly finalized rules will mandate automatic, cash refunds for cancelled or significantly delayed flights and save consumers over half a billion dollars every year in airline fees WASHINGTON – Building on a historic record of expanding consumer protections and standing up for airline passengers, the Biden-Harris Administration announced final rules that require airlines to provide…
