Biden moves to slash U.S. credit card fees, app charges

FILE PHOTO: U.S. President Joe Biden departs for travel to New York from the White House in Washington, U.S. January 31, 2023. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) -The White House on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple Inc and Google parent Alphabet Inc charge on mobile app stores.

The move is part of a larger policy drive to promote competition in consumer markets, officials said.