Bank Of America Fined $250 Million Over Fake Accounts And Illegal Junk Fees
ForbesAPR 2023
Junk fees have been harming customers for years, as companies consistently fraudulently lure customers in with low prices before imposing surprise, predatory, and even outright illegal fees. Not only is this unethical, but it also locks average Americans — particularly poor people — into paying more than they can afford. The government must continue its crusade against this deceptive practice.
So-called “junk fees” aren't junk at all; rather, they're typical business transactions that consumers have been aware of for a long time. They can be a nuisance, but they’re not hidden, and a true free-market economy would drive them out of the process. If the government wants to look out for consumers, it can start by getting rid of hidden taxes on goods and services.