The Biden administration proposed a federal rule to 'curb excessive credit card late fees' and plans to go after the Apple and Google app stores for what it says are 'barriers to competition.'
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Regarding the app stores, according to reports from the U.S. Department of Commerce's National Telecommunications and Information Administration, "Consumers largely can't get apps outside of the app store model, controlled by Apple and Google." He said over the next few weeks his team will meet with state and local officials across the U.S. to find ways to "crack down on junk fees" in their jurisdictions, and is calling on Congress to pass a Junk Fee Prevention Act that would regulate a variety of fees, including entertainment ticket fees and certain airline fees.
President Joe Biden delivers opening remarks during a meeting of the White House Competition Council in the East Room, Feb. 1, 2023.Credit card late fees
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