COLLEGE STATION, Texas (KRHD) — The White House's "Time is Money" initiative aims to make it easier for consumers to cancel memberships and subscriptions.
- The Federal Trade Commission's "Click to Cancel" rule would require businesses to make canceling a subscription service as simple as it is to register for it.
- The White House is also targeting improvements in automatic refunds for canceled flights, online health insurance claim submissions, and direct access to customer service representatives.
- Industry leaders argue that the "Click to Cancel" rule could impose significant costs, particularly on the television and internet sectors, potentially exceeding $100 million.
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Whether it’s gym memberships or other subscriptions, signing up is as easy as the click of a button.
However, opting out can be a different story.
Diana Rodriguez shared her experience: "I tried to cancel my membership, but they kept redirecting me to different customer service representatives — I was told to text someone else, and when I did, they sent me a link that didn't work," Diana Rodriguez said.
"Eventually, they said I had to do it through email, but that didn’t work either. I had to call several times, and when it still didn’t work, I ended up having to cancel my card and get a new one."
This kind of frustrating experience is exactly what the White House’s new initiative, "Time is Money," aims to address.
The initiative is designed to tackle corporate practices that waste peoples' time and money by making it easier to cancel subscriptions and memberships.
The Federal Trade Commission (FTC) has proposed a rule requiring companies to make canceling subscriptions as simple as signing up for them. Industry leaders claim that the FTC’s "Click to Cancel" rule could cost the television and internet industry over $100 million.
Beyond just memberships, the White House is also focusing on implementing automatic cash refunds for canceled and delayed flights, allowing health insurance claims to be submitted online, and ensuring customers can easily speak to a real person when calling customer service, rather than dealing with endless automated recordings and menu options.