Biden 'Junk Fee' Crackdown to Limit Credit Fees to $8 for Missed Payments

Thursday, February 02, 2023

White House: Joe Biden will call on Congress today to outlaw exorbitant fees for concerts and sports tickets, TV and internet termination charges, airline fees for families sitting together on flights, and other junk fees. Biden will also today unveil a proposed rule to cut credit card late fees from roughly $30 to $8, "saving consumers as much as $9 billion a year in late fees," the White House says.

Posted by lee_the_agent at 01:33 PM | 9 COMMENTS | permalink | Comment on This Entry |

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While he's at it would Biden kindly undo the f****** Trump did when it came to our income taxes?

#1 | Posted by Tor at 2023-02-01 05:53 PM | Reply

Is this where Republicans suddenly find their distaste for government interference in the "free markets" again?

Against all previous statements, they expected Buttigeig to step in and set the airlines straight, but now I'm sure they'll whine and bitch about Biden trying to prevent the nickel and diming of consumers for corporate profit.

#2 | Posted by jpw at 2023-02-02 01:54 PM | Reply

Don't expect the GQP to support that. It helps the poor.

Biden kindly undo the f****** Trump did when it came to our income taxes?

You mean you don't like paying more than you would have if they didn't pass the tax scam and a higher rate than a billionaire?

#3 | Posted by Nixon at 2023-02-02 02:12 PM | Reply

income taxes?

There is a watershed moment coming in 2026 when the tax scam individual tax provisions expire and the law reverts to 2017 law with only inflation adjustments.

Look for more "middle class" tax cuts that flow 95% to billionaires to be a hot topic for the GQP that year.

Meanwhile corporate rates will forever be 21%.

#4 | Posted by Nixon at 2023-02-02 02:15 PM | Reply

Look at Brandon taking care of the important stuff.

#5 | Posted by lfthndthrds at 2023-02-03 07:31 AM | Reply

$2,749,452
Total from Airlines PACs to candidates, 2021-2022
$1,305,146
To Democrats
$1,442,306
To Republicans
11
Number of PACs

It's dead jim.

#6 | Posted by sitzkrieg at 2023-02-03 08:10 AM | Reply

Look at Brandon taking care of the important stuff.

#5 | POSTED BY LFTHNDTHRDS

Because Congress can't. Or they just won't take care of anything helpful or important.

But they sure showed that AOC gal didn't they?

#7 | Posted by donnerboy at 2023-02-03 02:11 PM | Reply

Re 7

Oops. Wrong gal. I am sure they will show her, too.

But they sure showed that Ilhan Omar gal.

#8 | Posted by donnerboy at 2023-02-03 02:16 PM | Reply

"Biden 'Junk Fee' Crackdown to Limit Credit Fees to $8 for Missed Payments"

Not low enough.
This fee should be set to zero.
If you can't pay your balance, how can you pay your balance plus a fee?

In this report, we find the credit card market continues to rely on revenue from late fees disproportionately paid by economically vulnerable consumers.
www.consumerfinance.gov

#9 | Posted by snoofy at 2023-02-03 02:51 PM | Reply