Americans are collectively spending nearly $65 billion on junk fees, according to the White House.
Americans are collectively spending nearly $65 billion on sneaky fees, according to the White House.
"I think part of the reason that a lot of companies are doing this is that investors and shareholders really like it. It's another way to pull in more revenue without really competing," Rohit Chopra, director of the Consumer Financial Protection Bureau, told CNBC.Bucket No. 1: Banking fees The CFPB also estimates that fees worth $23.6 billion were charged by card issuers in 2019, and $14 billion of that total came from late fees alone.These are the extra costs consumers may encounter when they're hopefully doing something fun, like buying a concert ticket, booking a flight or reserving a hotel room.
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