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Improve The News is a free news aggregator and news analysis site developed by a group of researchers at MIT and elsewhere to improve your access to trustworthy news. Many website algorithms push you (for ad revenue) into a filter bubble by reinforcing the narratives you impulse-click on. By understanding other people’s arguments, you understand why they do what they do – and have a better chance of persuading them. **What's establishment bias?** The establishment view is what all big parties and powers agree on, which varies between countries and over time. For example, the old establishment view that women shouldn’t be allowed to vote was successfully challenged. ITN makes it easy for you to compare the perspectives of the pro-establishment mainstream media with those of smaller establishment-critical news outlets that you won’t find in most other news aggregators. This Magazine/Community is not affiliated with Improve The News and is an unofficial repository of the information posted there.

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Biden Admin. Announces Latest Crackdown on 'Junk Fees' (www.improvethenews.org)

submitted 9 months ago by [email protected] to c/[email protected]

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The Biden administration Tuesday announced a series of rule changes and regulations cracking down on so-called "junk fees" associated with late credit card payments, hidden fees, and "bulk billing" for services. Forbes
One new regulation includes a new Consumer Financial Protection Bureau (CFPB) rule setting an $8 cap for most credit card late fees and requiring banks to show why they should charge more than $8. The average credit card late fee is currently $32. ABC News
The rule would save consumers more than $10B per year, and it applies to large credit card issuers with more than 1M accounts and hold more than 95% of total outstanding credit card debt. US credit card debt recently exceeded a record $1.1T. CNN (LR: 2 CP: 5)
The White House, which in a fact sheet detailed how Americans pay $90B in "junk fees a year," claims that eliminating fees associated with event tickets, internet, apartment rentals, and banking would save consumers $20B per year. The White House
Also, the Federal Communications Commission (FCC) is proposing a rule that would ban “bulk billing” arrangements in which landlords and providers charge for a bundle of services, even if a customer hasn’t opted in. The White House
In addition, the White House is forming a new “strike force” led by the Justice Department (DOJ) and Federal Trade Commission (FTC) to combat illegal and unfair pricing on groceries, prescription drugs, healthcare, housing, and financial services. Associated Press

Democratic narrative:

The Biden administration continues to be a hero to consumers, who are now due to save billions of dollars. The White House is prioritizing easing the financial burden vulnerable people face, and reducing or eliminating unnecessary "junk fees" is a major part of this fight.
NPR ONLINE NEWS (LR: 3 CP: 5)

Republican narrative:

This is classic government overreach by the Democratic administration. These regulations are going to cause the banking system problems, including reducing competition and disincentivizing people to pay their credit card bills on time. In an effort to bribe people for their votes, the White House is hurting both businesses and consumers.
FOX NEWS (LR: 4 CP: 4)

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[–] Wodge 2 points 9 months ago

Republicans are idiots basically. "Won't anyone think of the poor corporations!" and these muppets fall for it every time.