Several major companies committed to increasing price transparency during a roundtable at the White House on Thursday, where President Joe Biden touted his efforts to crack down on so-called "junk fees."

“This is a win for consumers, in my view, and proof that our crackdown on junk fees has real momentum,” Biden said in remarks to kick off the roundtable, which featured executives from Airbnb, Live Nation, SeatGeek and a handful of other companies.

What You Need To Know

  • Executives from several major companies committed to increasing price transparency at a White House roundtable with President Joe Biden on Thursday

  • In his State of the Union address in February, Biden called for legislation, regulation and private sector changes to end the practice of undisclosed or surprise fees

  • The president praised the companies present on Thursday for embracing, “all-in pricing,” and called on their competitors to do to the same.

  • Live Nation announced it would provide consumers attending shows at its venues with the full cost – including any service or additional fees –upfront by September; Ticketmaster will also add an option for customers to view all-in pricing up front for other venues

  • Biden also touted his own efforts at the White House to crack down on hidden costs, such as stricter regulation on banks for overdraft fees. Biden noted he is also working to require airlines to refund customers through cash or vouchers when their flight is canceled.

In his State of the Union address in February, Biden called for legislation, regulation and private sector changes to end the practice of undisclosed or surprise fees. The president praised the companies present on Thursday for embracing, “all-in pricing,” and called on their competitors to do to the same.

Live Nation announced it would provide consumers attending shows at its venues with the full cost – including any service or additional fees –upfront by September. Ticketmaster will also add an option for customers to view all-in pricing up front for other venues on its platform. 

SeatGeek and xBk will also implement “all-in-pricing,” a model Biden says prevents customers from being hit with unexpected fees when they are checking out. Airbnb introduced an upfront price tool in December and The Pablo Center at the Confluence from Eau Claire rolled out its price transparency feature for tickets at its venue in April.

Biden also acknowledged companies such as TickPick, DICE and the Newport Festivals Foundation that have used all-in pricing for years.

“This is real transparency, which leads to more competition, brings down costs for working Americans, keeps growing our economy from the middle out and the bottom up, not the top down,” Biden said.

On Thursday, the president also touted his own efforts at the White House to crack down on hidden costs, such as stricter regulation on banks for overdraft fees. Biden noted he is also working to require airlines to refund customers through cash or vouchers when their flight is canceled.

The White House often highlights lowering costs for American families as a top priority for the president and that message is expected to be a large part of Biden’s pitch to voters ahead of the 2024 election.

“Junk fees are not a matter for the wealthy very much, but they're a matter for working folks, like the homes I grew up in,” Biden said Thursday. “And they can add hundreds of dollars a month and make it harder for families to pay their bills.  I think it's just wrong.”

The Associated Press contributed to this report.