Episode 1640 • • 2:18:43 - 2:23:43
1640: Funny Farm
White House Campaign Against Junk Fees and Shrinkflation
The Biden administration announced a new rule capping credit card late fees at $8, down from the previous average of $32. President Biden is also targeting "shrinkflation," using the Sesame Street character Cookie Monster on social media to highlight how companies are reducing product sizes while maintaining prices. The Chamber of Commerce has vowed to sue to block the new credit card fee regulations.