The US financial regulator, the Federal Trade Commission (FTC), has adopted a “click-to-cancel” rule, under which customers can cancel previously concluded subscription contracts with a few clicks.
Image: Investopedia
The rule will take effect within half a year. The goal is to make canceling subscriptions as easy as subscribing to them. Businesses must also obtain approval from their customers before renewing their subscriptions or paid customer membership agreements. The same goes for switching from free trials to paid connectivity. According to the BBC, the new rule prohibits customers from being directed to a chatbot or customer service if they want to cancel something. Finally, it should be possible to cancel an in-person contract online or by phone — Writes Privátbankár, which also belongs to the Klasszis Média newspaper group.
FTC Chairwoman Lina Khan said companies often lead customers who want to say goodbye to endless negotiations. The new rule puts an end to these dirty little tricks and traps. This could save wealthy American users time and money.
