Biden administration proposes new guidelines for corporate mergers, takes steps to disclose junk fees charged by landlords and launches a crackdown on price-gouging in food industry
President Biden widens war on junk fees, says US consumers are tired of being treated as "suckers" while underscoring need to continue driving down inflation."I've said before, capitalism without competition isn't capitalism. It's exploitation," Biden says. / Photo: Reuters
"It's about basic fairness," he told Cabinet members and other council members, underscoring the need to continue driving down inflation."Folks are tired of being played for suckers." Hannah Garden Monheit, the new director of Competition Council Policy at the National Economic Council, told Reuters news agency the administration would"use all the tools that we have" to curb anti-competitive practices.
"We don't really have a competitive marketplace unless we have strong government enforcement," Harper, now at the American Economic Liberties Project, said. Biden has repeatedly called for federal agencies, Congress and private companies to address surprise fees that can jack up consumers' cost by 20 percent.Other actions announced on Wednesday included draft merger guidelines that pave the way for tougher scrutiny of planned mergers by Big Tech companies like Amazon.com and Alphabet's Google.
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