The White House, along with the Consumer Protection Finance Bureau, say "junk fees" cost Americans nearly $65 billion every year. A junk fee is an add-on that isn't proportional to any value you receive from a company. One senior analyst said junk fees have become "profit centers" for businesses like credit card, live and sporting event and even cable companies.The government is working to reduce excessive fees from the likes of credit card companies, who earn $12 billion every single year from late fees alone.
- ‘Junk fees’ cost Americans almost $65 billion each year