No one would have ever described the ticket-buying expertise as “fun,” however today it’s extra tiresome and annoying than ever due to the existence of hidden charges, transaction charges, digital charges, and extra. These “junk” charges have grow to be the purpose of a brand new crackdown by President Biden.
These junk charges apply to extra than simply concert events, together with banks, airways, cable corporations and different industries, as nicely.
Writes CNBC:
He cited processing charges for live performance tickets, “resort fees” at inns, “excessive” bank card late charges, airline reserving charges and termination prices to maintain customers from switching cable or web plans as a few of the charges the administration is tackling.
At the White House Press Conference, President Biden was joined by Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and FTC Chair Lina Khan. CFPB already instituted new steerage directed at banks and shock overdraft charges, and the administration is “just getting started.”
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