A new rule proposed by the FTC targets hidden and 'bogus' fees businesses often add onto their services at checkout, aiming to do away with the deceptive practices.
A new rule proposed by the Federal Trade Commission would ban the sneaky fees some companies slap onto their services at checkout time. Thanks to these junk fees, which have crept into the process of everything from buying concert tickets to booking vacation rentals, the prices consumers initially see are often nowhere near what they end up paying.. The FTC wants to take things a step further by banning the common deceptive tactics altogether.
These practices are misleading, with companies often resorting to “bait-and-switch pricing and misrepresenting the nature and purpose of fees,” the FTC argues in. Under the proposed rule, businesses would have to include these additional fees in their advertised prices, explain what each fee is for and let customers know if any of it is refundable.
The FTC took comments from the public last year to assess the impact of junk fees and ultimately gathered over 12,000 responses to shape its proposal. It’s now opening up comments for 60 days so consumers can weigh in on the rule it’s put forth.
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