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June 15 (UPI) — President Joe Biden held a meeting with private sector companies on Thursday who have made commitments to enhance transparency and eliminate surprise fees by fully disclosing all customer charges upfront.
Following the meeting with representatives from Live Nation, SeatGeek, xBk, Airbnb, the Pablo Center at the Confluence, TickPick, DICE, and the Newport Festivals Foundation, President Biden delivered remarks highlighting the importance of these commitments in protecting consumers from junk fees.
“During my State of the Union, I emphasized our fight to end junk fees. These hidden charges that sneak into your bill end up making you pay more,” said President Biden. “While it may not be a significant concern for the wealthy, it can add up to hundreds of dollars each month, making it harder for families to pay their bills.”
The president praised the companies that have already taken action to eliminate junk fees or implement all-in pricing. He also expressed gratitude towards those who have announced their plans to do the same in the near future.
“In my view, this is a win for consumers and a testament to the momentum behind our crackdown on junk fees. This transparency leads to real competition,” stated President Biden.
Live Nation, one of the companies present at the meeting, announced that starting September, they will implement up-front all-in pricing. This means that over 30 million fans attending shows at more than 200 Live Nation-owned venues and festivals across the country will see a clear, total price for tickets.
SeatGeek, a ticketing platform, plans to introduce pricing features in the coming months to make it easier for customers to view all-in prices.
The White House announced in a statement that these companies collectively serve millions of consumers each year, who will now have a better shopping experience without surprise fees imposed at check-out.
President Biden remains committed to ensuring honest and transparent pricing for customers. In February, he took action to address excessive credit card late fees and continues to call on Congress, companies, and federal agencies to prioritize consumer protection.
Other companies have also taken steps to limit surprise fees. Airbnb introduced a new total price display tool in December, while ticketing platforms TickPick and DICE have been displaying upfront pricing since their respective founding years in 2011 and 2014.
In addition to the private sector commitments, the Biden administration revealed that the Consumer Financial Protection Bureau has increased supervision of bank reliance on fees such as check bounce and overdraft fees. This action has resulted in over $5 billion in annual savings for consumers.
The Department of Transportation, under President Biden’s leadership, has proposed a rule that would require airlines to disclose all of their fees upfront.
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