No one would ever have called the ticket buying experience “fun”, but nowadays it’s more tiring and annoying than ever thanks to hidden fees, transaction fees, digital fees and more. These “junk” fees have become the target of a new crackdown by President Biden.
These junk fees apply not only to concerts, but also to banks, airlines, cable companies, and other industries.
He cited concert ticket processing fees, “resort fees” at hotels, “excessive” credit card late fees, airline booking fees and termination fees to discourage consumers from switching cable or internet plans as some of the fees the administration is addressing.
At the White House press briefing, President Biden was joined by Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and FTC Chairwoman Lina Khan. The CFPB has already introduced new guidance for banks and surprise overdraft fees, and administration is “just getting started”.
I know hidden junk fees — like concert ticket processing fees — are a nuisance.
They are unfair, misleading and add up.
So last week I asked my administration to take action on these charges and put the money back in your pocket.
— President Biden (@POTUS) November 3, 2022