Hidden Fee Disclosure Act of 2023

Hozzl · 2023-12-15T16:00:12Z

Explore the details of House Bill 4508 Hidden Fee Disclosure Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

12/15/2023, 4:00 PM

Summary of Bill HR 4508

Bill 118 hr 4508, also known as the Hidden Fee Disclosure Act of 2023, aims to increase transparency in the financial industry by requiring companies to disclose any hidden fees to consumers. The bill was introduced in the US Congress with the goal of protecting consumers from being misled or taken advantage of by companies that charge hidden fees.

Under this legislation, companies would be required to clearly disclose any additional fees or charges that may not be readily apparent to consumers. This includes fees for services, products, or transactions that are not explicitly stated in the initial agreement or contract.

The Hidden Fee Disclosure Act of 2023 also mandates that companies provide consumers with a breakdown of all fees associated with a particular product or service, as well as information on how these fees are calculated. This information must be presented in a clear and easily understandable manner, so that consumers can make informed decisions about their purchases. Overall, this bill seeks to empower consumers by giving them the information they need to make educated choices about their financial transactions. By increasing transparency and accountability in the financial industry, the Hidden Fee Disclosure Act of 2023 aims to protect consumers from being unfairly charged hidden fees.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 4508

Bill HR 4508 is currently in the status of Bill Introduced since July 10, 2023. Bill HR 4508 was introduced during Congress 118 and was introduced to the House on July 10, 2023. Bill HR 4508's most recent activity was Placed on the Union Calendar, Calendar No. 209. as of November 1, 2023

Bipartisan Support of Bill HR 4508

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4508

Primary Policy Focus

Health

Alternate Title(s) of Bill HR 4508

Hidden Fee Disclosure Act of 2023Hidden Fee Disclosure Act of 2023Hidden Fee Disclosure ActTo amend the Employee Retirement Income Security Act of 1974 to clarify and strengthen the application of certain employer-sponsored health plan disclosure requirements.

Start holding our government accountable!