Biden Wants Slash What He Calls Credit-Card 'Junk Fees'

President Joe Biden announced efforts to slash billions in credit-card late fees and called on Congress to open up mobile app stores to greater competition. Biden calls them "junk fees" and says the late fees cost consumers $9 billion a year. He spoke at the White House. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness/ Instagram: https://www.instagram.com/quicktake/?hl=en