The Daily Money: Why Biden's crackdown on ‘junk fees' may not save you money
Happy Monday, Daily Money readers. Hope everyone had a great weekend, whether you were one of the many (many, many) people to take part in the Barbenheimer phenomenon or just decided to stay home to avoid facing the massive heat wave.
Let’s start off the week by taking a look at junk fees.
You’ve likely experienced sticker shock from them yourself, whether from a resort, airline or bank. President Joe Biden’s administration has made it a priority to eradicate these fees, but some experts doubt a crackdown will translate to significant savings for Americans if businesses just roll the fees into total pricing.
“There might be some political PR points to be won in terms of fighting for the consumer, middle-class Joe .... but the fees are like a game of whack-a-mole,” said Ted Rossman, senior industry analyst at consumer financial services company Bankrate. “When one goes down, another pops up.”
Twitter rebranding with new logo
Elon Musk has officially changed Twitter’s logo from the iconic blue bird to a black-and-white “X” – the latest big change since he bought the company for $44 billion last year.
The new logo appeared on the desktop version of Twitter Monday, however, the bird is still prominent on the mobile app. Musk on Sunday said the company will doon “bid adieu to the twitter brand and, gradually, all the birds.”
In a series of tweets about the platform rebranding, Twitter CEO Linda Yaccarino said X will transform the "global town square."
“X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services and opportunities,” she wrote. "Powered by AI, X will connect us all in ways we’re just beginning to imagine."
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🍔 Today's Menu 🍔
Happy National Tequila Day. Some of the deals and drinks to try today include:
- Tex-Mex restaurant chain Chuy's has drink specials all day Monday including $5 top-shelf tequila, $1 floaters to top off your drink and a limited-time frozen raspberry margarita.
- Special tequila cocktails, including a Dragon Fruit Margarita or a $4 Tequila Sunrise, can be found at TGI Fridays.
- On the Border is serving up $5.99 house margaritas and $9.99 Marky Margs, made with "Marky Marg," featuring Mark Wahlberg's Flecha Azul Tequila. Also available: $1.29 Meltdowns (a shot of your favorite tequila or liqueur added to your drink), plus ½ off appetizers all day.
- Arizona-based restaurant chain Macayo's has $7 margarita flights on Monday.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.