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On 26 January 2022, the Consumer Financial Protection Bureau (CFPB) “launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies.”

While this is a laudable goal, Associate Director Dr. Andrew Stivers, an economic expert in consumer protection, finds that determining whether the fee was too high may be a challenging task for regulators. Dr. Stivers breaks down the CFPB’s request for information in a Law360 article titled “For the CFPB, Evaluating ‘Junk Fees’ May Be Complicated.”