Adam Rust, Director of Financial Services at the Consumer Federation of America, issued the following statement for the record, addressing the U.S. Senate Committee on Banking, Housing, and Urban Affairs. The testimony highlights the pervasive issue of junk fees in financial services and rental housing, emphasizing their detrimental impact on consumers and market competition. The statement details various instances where junk fees harm financial transparency and consumer choice, suggesting that regulation could enhance market functioning and protect consumers. It outlines the negative effects of complex pricing structures and advocates for the enforcement of clearer pricing and fee disclosures to prevent exploitative practices.