FTC Submits Proposal to Ban Concert Ticket Junk Fees
Reporting that hidden fees cost customers “tens of billions” each year.
The Federal Trade Commission (FTC) has submitted a proposal to ban the hidden fees for products and services, including the hefty fees that only seem to pop up when you’re at checkout for concert tickets. In its proposal, the FTC writes that the “fees can cost consumers tens of billions of dollars per year in unexpected costs.”
Ahead of submitting it, the FTC received input from 12,000 individuals who explained how hidden fees affect their spending habits. The proposal outlines that companies would be required to showcase all fees associated with tickets in the price listed.
The proposal identifies two types of fees the FTC wants to eradicate: “hidden fees,” as well as “bogus fees.” The latter refers to fees for services that don’t totally make it clear what the customer is paying for.
“These junk fees now cost Americans tens of billions of dollars per year—money that corporations are extracting from working families just because they can,” FTC Chair Lina M. Khan said. “By hiding the total price, these junk fees make it harder for consumers to shop for the best product or service and punish businesses who are honest upfront.”
“The FTC’s proposed rule to ban junk fees will save people money and time, and make our markets more fair and competitive.”
In other music news, tickets for Travis Scott’s Circus Maximus Tour are reselling for as low as $7 USD.
