The Battle Against Hidden Fees: President Biden Takes On Corporations
The Issue of Hidden Fees
Americans are becoming increasingly frustrated with the prevalence of hidden fees in various industries. These additional charges, often referred to as junk fees, can turn an affordable transaction into a costly one. President Joe Biden has recognized this issue and pledged to crack down on hidden fees during his State of the Union address earlier this year.
The Push for Transparency
President Biden aims to increase pricing transparency for consumer purchases across a wide range of industries. His administration is targeting airlines, ticket sales companies, banking institutions, and credit card companies to address the problem of hidden fees.
Lobbyists Fighting Back
However, corporations and their lobbyists are opposing the proposed rules that would require them to be more transparent about hidden fees. The Washington Post conducted an analysis of federal lobbying files and filings sent to federal agencies and found that industry representatives are aggressively pushing against the new regulations.
Fighting for Transparent Airline Ticket Pricing
One particular area where consumers have voiced concerns is the airline industry. Travelers have long demanded airlines to reveal the true cost of tickets earlier in the booking process. Despite consumer advocacy, major US-based airlines, such as American Airlines, Delta Air Lines, and United Airlines, are resistant to this change. Airline industry lobbyists argue that implementing such transparency would cause confusion and frustration for passengers.
The Debate Over Concert Fees
Concert fees are another source of frustration for consumers. Live Nation, a prominent event promoter, has stated that it cannot enforce price transparency for venues that it doesn’t own. However, company executives support federal regulations that would ensure all companies disclose necessary information, leveling the playing field for everyone.
