251–260 of 480 posts
> "Now we can put the consumer first and create a level playing field for those businesses that advertise the real price, up front," I hope this means they're banning the common US practice of omitting sales taxes and tips from prices.
Don’t forget the “living wage surcharge” that many cities mandate for restaurant workers! It’s typically not disclosed until after you eat, and varies from city to city.
Earlier quoted context omitted.
Don’t forget the “living wage surcharge” that many cities mandate for restaurant workers! It’s typically not disclosed until after you eat, and varies from city to city.
This seems insane to me. Paying your employees a living wage is just another cost of producing the food, it should be part of the menu cost like everything else. Splitting it out is no more sensible that adding "building rent" or "ingredient cost" as extra line items on the final bill.
“Think of all the mom-and-pop businesses with deceptive pricing models that will be put out of business by government overreach”?
I don't quite see how an overdraft fee (one of the examples given) is a junk fee - it costs the bank real money to cover the loan they are effectively giving you when you are in overdraft.
> "Now we can put the consumer first and create a level playing field for those businesses that advertise the real price, up front," I hope this means they're banning the common US practice of omitting sales taxes and tips from prices.
It seems it taps into a sentiment that’s allll over the place but not based in the reality of this bill
I don't quite see how an overdraft fee (one of the examples given) is a junk fee - it costs the bank real money to cover the loan they are effectively giving you when you are in overdraft.
In the recent past, US banks were found to have specifically designed software to calculate how to best re-order customer transactions to maximise overdraft fees. Banks also generally make it hard/impossible to opt out of overdraft, something that would probably be preferable to many customers. Overdraft fees are a huge source of income these days.
I had to have a huge argument with my local rep. She kept insisting "what if there isn't enough money to cover the transaction?" and did not seem to understand that it was perfectly acceptable to me for such a transaction to fail, rather than succeed and incur a substantial fee.
I wonder how this will affect the rest of the US even if congress can’t pass something. For example, if I’m in California and I buy something elsewhere am I protected? If I live in Oregon and buy something in California am I covered?
I don't quite see how an overdraft fee (one of the examples given) is a junk fee - it costs the bank real money to cover the loan they are effectively giving you when you are in overdraft.
Earlier quoted context omitted.
In the recent past, US banks were found to have specifically designed software to calculate how to best re-order customer transactions to maximise overdraft fees. Banks also generally make it hard/impossible to opt out of overdraft, something that would probably be preferable to many customers. Overdraft fees are a huge source of income these days.
Adding further: many banks make it difficult or impossible to opt out of overdraft programs. I had to have a huge argument with my local rep. She kept insisting "what if there isn't enough money to cover the transaction?" and did not seem to understand that it was perfectly acceptable to me for such a transaction to fail, rather than succeed and incur a substantial fee.
Don't get me started on the level of irritated you need to get a bank manager to void protocol, lol.