Biden Administration Tackles Subscription Fees With Time Is Money

The Biden administration is tackling subscription fees, especially those that are hard to cancel, with a new “Time Is Money” program.

The Biden administration has been cracking down hard-to-cancel subscription fees, with the FTC recently suing Adobe over the practice.

In a fact sheet, White House officials make clear that “Time Is Money” is a comprehensive effort to tackle subscription fees.

Today, President Biden and Vice President Harris are launching “Time Is Money,” a new governmentwide effort to crack down on all the ways that corporations—through excessive paperwork, hold times, and general aggravation—add unnecessary headaches and hassles to people’s days and degrade their quality of life.

Americans are tired of being played for suckers, and President Biden and Vice President Harris are committed to addressing the pain points they face in their everyday lives. The Administration is already cracking down on junk fees—those hidden costs and surcharges in everything from travel to banking services—that hit people in their pocketbooks. Now the Biden-Harris Administration is taking on the corporate practice of giving people the run around, wasting their precious time and money.

The fact sheet calls out companies for deliberately making it difficult to cancel subscriptions, cash in rebates, and or secure a refund.

The initiative will tackle several specific areas:

• Cracking down on customer service “doom loops.” Too often customers seeking assistance from a real person are instead sent through a maze of menu options and automated recordings, wasting their time and failing to get the support they need. In a recent survey, respondents said that being forced to listen to long messages before being permitted to speak to a live representative was their top customer service complaint. To tackle these “doom loops,” the Consumer Financial Protection Bureau (CFPB) will initiate a rulemaking process that would require companies under its jurisdiction to let customers talk to a human by pressing a single button. The FCC will launch an inquiry into considering similar requirements for phone, broadband, and cable companies. HHS and DOL will similarly call on health plan providers to make it easier to talk to a customer service agent.
• Ensuring accountability for companies that provide bad service. People shopping for products or services should be able to rely on customer reviews to assess which companies will provide streamlined service and not waste their time. The FTC has proposed a rule that, if finalized as proposed, would stop marketers from using illicit review and endorsement practices such as using fake reviews, suppressing honest negative reviews, and paying for positive reviews, which deceive consumers looking for real feedback on a product or service and undercut honest businesses.
• Taking on the limitations and shortcomings of customer service chatbots. While chatbots can be useful for answering basic questions, they often have limited ability to solve more complex problems and disputes. Instead, chatbots frequently provide inaccurate information and give the run-around to customers seeking a real person. The CFPB is planning to issue rules or guidance to crack down on ineffective and time-wasting chatbots used by banks and other financial institutions in lieu of customer service. The CFPB will identify when the use of automated chatbots or automated artificial intelligence voice recordings is unlawful, including in situations in which customers believe they are speaking with a human being.
• Helping streamline parent communication with schools. Between communicating with teachers, viewing school policies, completing forms and permission slips, and more, school processes, platforms, and paperwork can sometimes be a hassle for families that already have a lot on their plates. The Department of Education will issue new guidance to schools on how they can help make these processes less time-consuming for parents to handle, and to build effective family engagement through two-way communications. This will include new resources for schools to address time-wasting technology and offer more streamlined processes for engaging and communicating with parents.

“Time Is Money” looks to be one of the most comprehensive attempts to reign in bad-faith practices that have become all too common in business.

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