Several Supreme Court justices signaled during oral arguments of a case being closely watched by the mutual fund industry that the Securities and Exchange Commission, not courts, should have authority over setting fund fees. "It makes a lot more sense to have the SEC regulate rates than to have courts do it, doesn't it?" Chief Justice John Roberts said during court arguments. Financial advisors were quick to echo the sentiments of the justices. "That's what the SEC is there for," said Richard Schroeder, executive vice president of Schroeder Braxton & Vogt.
With the price of oil dipping below $100 a barrel, Canada's two largest carriers announced Thursday they were eliminating fuel surcharges on North American routes. Air Canada was first to act, cutting surcharges that ran as high as $60 one-way for flights to the U.S. WestJet Airlines followed suit, as did regional carrier Porter Airlines. Air Canada also said it was dropping a $25 charge for low-fare passengers checking a second bag.
ASTA is advising travel agents to disclose the various fees airlines are imposing to their clients at the time of booking and include a disclosure notice on itineraries and invoices. The association sent agents a list of updated fees, which include change fees, baggage fees and more.
The fee United Airlines will start charging passengers for checking more than one piece of luggage is likely to be copied by other legacy airlines. "They (United) are the first, but they certainly won't be the last," said airline consultant Terry Trippler of Trippler Associates.
The fee United Airlines will start charging passengers for checking more than one piece of luggage is likely to be copied by other legacy airlines, airline consultant Terry Trippler says. "They (United) are the first, but they certainly won't be the last," said Trippler.