The consumer finance watchdog is aiming to tackle a broader array of hidden fees, which could include $24 billion in mortgage and credit-related charges.
Director Rohit Chopra noted that the CFPB could expand its focus on 'junk fees' significantly, as the agency aims to tackle deceptive financial practices in the banking industry.
Aaron Klein emphasized that Vice President Harris should continue to combat junk fees, citing her first-hand experience with their impact on consumers.
The CFPB argues that numerous financial fees obscure the true cost of goods and services, ultimately distorting the free-market system.
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