Biden announces plan to cut down on ‘junk fees’

it isn't a bill. it is selective use of enforcement to discourage judgement calls that always benefit the institution. from the article

Specifically, the Consumer Financial Protection Bureau is issuing new guidance publicly relaying that depositor fee and surprise overdraft fee practices “are likely unfair and unlawful under existing law.”

“There is an all-of-government effort to attack junk fees. They are creeping across the entire economy. We see it everywhere,” Rohit Chopra, the director of the CFPB, told CNN.

Analysts say the new CFPB guidance signals the agency plans to lean heavily on enforcement, instead of the lengthy rule-making process, when it comes to banking fees.

“This is a shot across the bow to any bank that continues to charge an overdraft fee,” said Ed Mills, Washington policy analyst at Raymond James. “This is regulation through enforcement.”

 

Strongly disagree. But for government regulation of the "free" (free for whom?) market over the last 100+ years, we'd still have lassiez faire capitalism and a country full of company towns.

 

95% of the time, no. Sometimes we can't offer a flat rate because the dumping tonnage is too variable, but usually we can just roll with a higher cost estimate and they are still happy with getting charged the same thing every month/dump.

If I tell a customer a dumpster is $198 a month they get an invoice for $198 a month. They love it.

 

If it takes you “hours” to pick out an AirBNB, then perhaps you do need Joe Biden to hold your hand through life.

 

You’re changing the argument again. First, you were saying it takes you hours to compare costs and now you’re blaming the “hours” on your wife. Classy.

 

Make schematics available too.

 

Make lifetime warranties without stipulations mandatory and free.

 

This is how you tell someone you don’t take vacations; without telling them you don’t take vacations...

It takes time and a budget to plan family vacations; I am all for making easier on those taking the vacation than those that will profit from the vacation they plan to take...

 

That almost read like she is a poster on this sight.

 

The focus here is on banks abusing their fees it appears. And that is good. This will be bipartisan.

But convenience fees are basically fees to pay for credit card merchant fees. They are legal as long as there is another preferred payment method (bank 99.9% of the time and that one does not have a convenience fee because there is no merchant fees).

I personally can’t stand the convenience fee either as I think they should just incorporate it into the cost of the product or service. But that is hard for government entities (for example paying taxes/tag fees).

I don’t think this is going to save as much as it is touting. But businesses that abuse the system to charge fees should be held accountable.

 

Yeah car rentals I don’t see this as a big deal. Too much competition. Now maybe a small local thing. I have heard of boat rentals being an issue. My buddies dad one time had a boat rental guy try to charge him for damaging the prop. My buddies dad gave it to them and said if you are going to go through with this you are going to give me the prop I damaged before you get any money from me lol.

 

It is not clear on search results, which forces me to click through everything. Also, you are allowed to charge usage fees, or whatever they want to call it, for using amenities, which, again, includes a series of opaque testing procedures in many instances.

As a consumer, I am tired of clicking on the property that says $90 a night and finding a $200 cleaning fee and a requirement to strip the sheets, run the dishwasher, empty the trash, etc. And that is before we get to the usage fees. They engage in partition pricing and it is annoying as a consumer.

 

I literally have no options to ad fees. Maybe they've stopped that?

I can add things like Kayak rental etc but they pay that up front. I dont know anyone that engages in those practices. Maybe some bad apples out there, but hotels dont exactly tell you the total price up front either.

Also, many airbnbs are entire homes.

Weather you trash ours or not, my wife cleans the whole thing top to bottom.

Its not for everyone, but our place sleeps 6 and its a lot better than renting 3 hotel rooms even with the fees.

Also the cleaning fee is just part of the room charge. By listing it as a cleaning fee we can deduct it from taxes. We are just more honest in that regard than some folks, but the high cleaning fees are just people rearranging their profits to tax shelter them.

 

I really think this country his BIGGER problems. That's why you will see a sea of red come 11/8.

 

Yeah, don’t think I’ve ever taken a vacation without putting “hours” into planning it out, including trying to get the best bang for the buck on lodgings. The more extensive the trip, the more research I will do. The idea of attacking someone for “a few hours” just shows cluelessness to me.

Who gets to enjoy the fruits of a vacation without the planning part? A child.

Maybe he’s a billionaire and his personal assistant sets out all the plans for his trips, somehow I doubt it.

 

Will owner pocket that 175 or pay a cleaner 175? Seems like you may be misinformed and better suited for motels.