With inflation sticking around, Biden targets ‘junk fees’

By KEN SWEET
AP Business Writer

NEW YORK (AP) — With time running out before the election, President Joe Biden highlighted his administration’s push to crack down on so-called junk fees that banks and other companies charge their customers. The announcement comes after months of high inflation has eaten away at Americans’ savings and made the economy the top issue for voters. Biden was joined by Rohit Chopra, the director of the Consumer Financial Protection Bureau, the nation’s financial watchdog agency, which is targeting overdraft fees charged by banks as well as bad check fees, which are levied against a bank customer when a check isn’t valid.