US Government Launches 'TimeIsMoney' Initiative to Regulate Online Subscriptions

TapTechNews August 13th news, the Associated Press reported yesterday (August 12th) that the US government has launched a new initiative called TimeIsMoney, joining multiple regulatory agencies to regulate online subscriptions, making it easier for American consumers to click the unsubscribe button.

According to the content of this new initiative, many regulatory agencies such as the Federal Communications Commission and the Federal Trade Commission will jointly issue new laws and regulations and refine implementation details, requiring various industries from healthcare and fitness memberships to media subscriptions to standardize the unsubscribe mechanism.

Neera Tanden, a White House policy advisor, said when announcing the news last Friday:

The government is cracking down on all the behaviors of companies that, through paperwork, waiting time and regular cumbersome procedures, suppress the waste of people's unsubscribing, time, money and really withholding all their money.

In essence, by setting up cumbersome unsubscribe means, companies make it very difficult for consumers to cancel services or require them to pay unsubscribe fees, and this behavior has caused serious economic consequences. We want to make the unsubscribe experience as simple and easy to use as subscribing.