Feds Should Clear the Air Around “Junk Fees”

The Biden administration and several federal bank agencies are focused on advancing consumer protections and preventing exploitative “junk fees” charged by financial companies. Financial companies are required to disclose all fees associated with consumer lending and reflect the true costs of their products or services in advertisements. This Law360 Article explores recent supervisory work in connection with junk fees and provides analysis on permissible fees in consumer lending transactions.

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