News Formal

Companies sue Biden administration over crackdowns on 'junk fees'

  • 📰 10News
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 50%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The U.S. Chamber of Commerce successfully sued to halt the president's plan, which would've capped credit card late fees at $8 per month.

Ahead of November's general election, President Joe Biden is betting a lot on cracking down on junk fees as an issue that will resonate with voters. However, he's running into one big issue: lawsuits.

Earlier this year, President Biden announced a multi-year effort to crack down on those fees, which can sometimes be $30 or more. The president's plan calls for that to be lowered to no more than $8 per month.Federal judge temporarily halts Biden plan to lower credit card late fees to $8 AP via Scripps News 9:10 AM, May 12, 2024 The effort to eliminate junk fees has taken on hotels, airlines and banks.

Joseffer said his group is looking out for the unintended consequences. A credit card company, for instance, may just deny a person credit if they can't impose proper fees.Eliminating 'junk fees' would create chaos at restaurants, group says Justin Boggs 11:26 AM, Feb 12, 2024 "Late fees are not junk fees," Joseffer said."It's a fee because you didn't pay your bill on time.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 732. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Biden Administration Asks Companies to Build 'Digital Twins' of AI ChipsThe Biden administration is allocating $285 million in CHIPS Act funding for companies that can develop the technology
Källa: Gizmodo - 🏆 556. / 51 Läs mer »

Deputy Treasury Sec’y: Biden Helped Lower Inflation, But Food Companies Are GougingSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Källa: BreitbartNews - 🏆 610. / 51 Läs mer »