In a disingenuous announcement, Blockbuster has announced that it is (to quote the CNN article), “abolishing late fees on all its video tapes, DVDs, and video games as of Jan. 1.” Sounds great, until you read down just a paragraph, where they explain that rented products will still have a due date. If you go past that due date by a week, Blockbuster will automatically charge the entire price of the game or movie to you, which you can contest for up to 30 days if you’re willing to pay a “restocking fee.”
I’m not saying that’s an awful system, but it’s not an abolishment of late fees at all.
Blockbuster drops late fees [Money.CNN]
