The Hidden Cost of ‘Junk Fees’: American Households could be facing an additional $650 in annual expenses due to sneaky practice.

American households could be facing an additional $650 in annual expenses due to the sneaky practice of tacking on “junk fees” to their bills, according to recent studies. These fees are often added at the end of a purchase, making it difficult for consumers to compare prices between vendors and leading them to spend up to 20% more than they had originally anticipated.

The practice is widespread across various industries such as live event tickets, internet and cable services, apartment rentals, banking, and more. Some consumers are becoming increasingly aware of this issue and are actively seeking out businesses that provide transparent pricing upfront. Noelle Weaver, Bradley Walker, and Merrilee Bridgeman are among those who have shared their experiences of surprise fees and added costs at different businesses.

President Joe Biden’s administration has acknowledged the growing concern surrounding junk fees and has taken steps to address it. By reducing overdraft fees and bounced-check costs, they hope to alleviate some of the financial burden these hidden fees are placing on American households. Additionally, a new bill called the Junk Fee Prevention Act has been introduced in Congress to combat these excessive fees and help protect consumers from being overcharged.