The Federal Trade Commission (FTC) announced new rules requiring companies to provide up-front pricing for services such as vacation rentals, hotels and event tickets.
The new rule is intended to eliminate "junk fees," the added costs that are tacked on when a consumer goes to checkout for a purchase. The FTC said it expects the new rule will save consumers up to 53 million hours per year of wasted time spent searching for the total price for tickets and lodging.
The new rule "requires that businesses clearly and conspicuously disclose the true total price inclusive of all mandatory fees whenever they offer, display or advertise any price of live-event tickets or short-term lodging." In other words, fees are still allowed but must be disclosed earlier in the transaction process.
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