Today's Article

President Joe Biden2 unveiling a 3proposed rule from the4 FTC 5banning businesses from charging hidden or 6misleading fees. 

"These7 junk fees can add up hundreds of dollars, 8weighing down family budgets, making it harder to pay family bills." 

While the new rule does not limit what sellers can charge, it does require them to9 disclose the full price 10upfront. 11Consumer watchdogswith the U.S. Public Interest Research Group say the industries with the worst hidden fee 12offenders include event ticket sellers and hotels. 

"The companies out there that have been trying to13 pad their profits with all of these little fees here and there, they better take note, because business is going to change."

The proposed rule also stands to benefit companies whose prices might look more expensive because they're already disclosing everything up front. 

"This is just going to 14level the playing field so that consumers know they can actually shop around, they can compare apples to apples and make informed decisions and not get hit with unexpected fees later on."

The public will have 60 days from when it's published in the Federal Register to comment on the proposed rule. As it reads now, the FTC would have the power to find companies not in15 compliance and secure refunds for 16defrauded customers. 

"It comes down to 17enforcement. You can have all the laws and rules in the world, but usually bad guys don't care about laws and rules."