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FTC | RIN: 3084-AB77 | Publication ID: Fall 2023 |
Title: Unfair or Deceptive Fees Trade Regulation Rule | |
Abstract:
On November 8, 2022, the Federal Trade Commission issued an advance notice of proposed rulemaking to address certain deceptive or unfair acts or practices relating to fees. 87 FR 67413 (Nov. 8, 2022). American consumers, workers, and small businesses today are swamped with junk fees that frustrate consumers, erode trust, impair comparison shopping, and facilitate inflation. A Commission rule codifying prohibitions against or limitations on certain kinds of prevalent unfair or deceptive fee practices could protect consumers and bring greater price transparency to the marketplace. The Commission solicited written comment, data, and argument concerning the need for such a rulemaking to prevent persons, entities, and organizations from imposing such fees on consumers. The public comment period as extended closed on February 8, 2023. On October 11, 2023, the Commission announced that it was publishing a notice of proposed rulemaking to promulgate a trade regulation rule entitled Rule on Unfair or Deceptive Fees,” which would prohibit unfair or deceptive practices relating to fees for goods or services, specifically, misrepresenting the total costs of goods and services by omitting mandatory fees from advertised prices and misrepresenting the nature and purpose of fees. The public comment period will close 60 days after publication in the Federal Register. |
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Agency: Federal Trade Commission(FTC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: Undetermined |
CFR Citation: 16 CFR 464 | |
Legal Authority: 15 U.S.C. secs. 41 to 58 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest. | |
RIN Information URL: https://www.ftc.gov/newsevents/news/press-releases/2022/10/federal-trade-commission-explores-rule-cracking-down-junk-fees | |
RIN Data Printed in the FR: No | |
Agency Contact: Janice Kopec Attorney Federal Trade Commission 600 Pennsylvania Avenue NW, Washington, DC 20580 Phone:202 326-2550 Email: jkopec@ftc.gov Edwin Rodriguez Attorney Federal Trade Commission 600 Pennsylvania Avenue NW, Washington, DC 20580 Phone:202 326-3147 Email: erodriguez@ftc.gov |