CFPB reports $100m annual fees on U.S. school lunch payment systems, disproportionately affecting low-income families.
The Consumer Financial Protection Bureau (CFPB) reports that U.S. school lunch payment systems impose over $100 million in annual fees on parents, disproportionately affecting low-income families. With many schools adopting cashless systems, transaction fees can reach up to 5%, adding significant costs, especially for those who cannot afford large prepayments. The CFPB recommends that schools ensure transparency for fee-free payment options and suggests families negotiate lower fees.
September 11, 2024
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