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Biden Tackles Hidden Charges
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AG Henry's 'Junk Fees' Crusade
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Overview
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President Joe Biden is taking action to combat 'junk fees,' hidden charges that inflate bills in various industries. The Federal Trade Commission and the Consumer Financial Protection Bureau have proposed rules to prohibit deceptive fees and promote transparent pricing. Banks are under scrutiny to reduce late payment penalties and overdraft interest.
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How does the Biden administration's approach to consumer protection align with broader global efforts to combat predatory practices?
How might the proposed rules impact consumer behavior and spending habits?
What other measures can be taken to address hidden fees and charges in various industries?
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