Penalty fees for consumers are prevalent in many service industries such as banking and cellular phone service, accounting for billions of dollars in “junk fees” that annually eat away at consumers’ wallets like termites. Penalty fees for consumers are prevalent in many service industries such as banking and cellular phone service, accounting for billions of dollars in “junk fees” that annually eat away at consumers’ wallets like termites. Economics & Business Phys.org – latest science and technology news stories