U.S. Government Initiative 'Time Is Money'

SOURCE apnews.com
The U.S. government introduces a new initiative called 'Time Is Money' to make it easier for Americans to cancel unwanted memberships and recurring payment services, cracking down on companies' practices that waste people's time and money.

Key Points

  • New regulations aim to make canceling subscriptions as easy as signing up
  • Initiative targets industries like healthcare, fitness, media subscriptions
  • FTC proposed rule to ban hidden and bogus junk fees
  • Transportation Department rules for airlines to issue cash refunds for delays

Pros

  • Protects consumers from companies' practices that waste time and money
  • Introduces new regulations to make it easier to cancel subscriptions
  • Addresses hidden fees and misleading practices by companies

Cons

  • Business advocates criticize the initiative for micromanaging pricing structures
  • Some companies may face legal actions for deceptive practices