The White House has declared war on so-called “junk fees,” i.e. add-on fees to transactions that increase complexity and decrease price transparency as opposed to rolling all relevant costs into one “all-in” price. Regulators such as the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission have followed with their own rules implementing that command.
But if the Biden Administration claims to be in favor of simpler pricing, why do they keep pushing regulations that will increase the use of exactly the sort of practices the White House claims to abhor?
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