Nobody would have ever described the ticket-buying expertise as “enjoyable,” however as of late it’s extra tiresome and annoying than ever because of the existence of hidden charges, transaction charges, digital charges, and extra. These “junk” charges have change into the goal of a brand new crackdown by President Biden.
These junk charges apply to extra than simply concert events, together with banks, airways, cable firms and different industries, as effectively.
He cited processing charges for live performance tickets, “resort charges” at resorts, “extreme” bank card late charges, airline reserving charges and termination expenses to maintain customers from switching cable or web plans as among the charges the administration is tackling.
On the White Home Press Convention, President Biden was joined by Client Monetary Safety Bureau (CFPB) Director Rohit Chopra and FTC Chair Lina Khan. CFPB already instituted new steering directed at banks and shock overdraft charges, and the administration is “simply getting began.”
I do know hidden junk charges – like processing charges on live performance tickets – are a ache.
They’re unfair, misleading, and add up.
That’s why, final week, I known as on my Administration to crack down on these charges and put that cash again in your pocket.
— President Biden (@POTUS) November 3, 2022