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ARTICLE · 08 NOVEMBER 2022

President Biden Says His Administration Is Taking On "Junk Fees"

Frankfurt Kurnit Klein & Selz PC
Frankfurt Kurnit Klein & Selz PC
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Frankfurt Kurnit Klein & Selz PC

Frankfurt Kurnit Klein & Selz PC

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In a speech last week, President Joe Biden said that his Administration is taking on so-called "junk fees." Accompanied by CFPB Director Rohit Chopra and FTC Chair Lina Khan...

United StatesConsumer Protection

In a speech last week, President Joe Biden said that his Administration is taking on so-called "junk fees." Accompanied by CFPB Director Rohit Chopra and FTC Chair Lina Khan, the President said that he wants to eliminate "unfair hidden fees" that are taking "real money out of the pockets of American families."

The Administration made clear that it's not suggesting that all additional fees are unfair; the President is just focused on the hidden ones. In a statement, the Administration explained, "There is nothing wrong with a firm charging reasonable add-on fees for additional products or services." What the Administration is concerned about is fees that that are designed to to "confuse or deceive consumers or to take advantage of lock-in or other forms of situational market power."

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This post first appeared in Frankfurt Kurnit's Focus on the Data blog (www.focusonthedata.com). It provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

Originally published by the New York Legal Ethics Reporter

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

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