U.S. federal agencies seek to crack down on unwanted memberships and recurring payments

In an effort to protect consumers, multiple U.S. federal agencies are working together to make it easier for Americans to unsubscribe from unwanted memberships and recurring payment services. The government initiative, called “Time Is Money,” includes the introduction of new regulations and promises further action in various industries such as healthcare, fitness, and media subscriptions. The goal is to prevent companies from intentionally delaying services or making it difficult for customers to cancel, thus holding on to their money for longer periods. The Federal Communications Commission is considering imposing requirements on communications companies to ensure canceling a subscription is as easy as signing up. The Federal Trade Commission has already initiated “click to cancel” rulemaking, which requires companies to allow customers to end subscriptions as easily as they started them. Additionally, the departments of Labor and Health and Human Services are urging health insurance companies to improve customer interactions.