WASHINGTON (dpa-AFX) - The Biden administration is launching 'Time Is Money,' a new government-wide effort to crack down on unfair practices by corporates like excessive paperwork, long wait times, and more that pad the profits of big business at the expense of everyday Americans' time and money.
The Federal Trade Commission has proposed a rule that would require companies to make it as easy to cancel a subscription or service as it was to sign up for one. The agency is currently reviewing public comments about its proposal. And the Federal Communications Commission is initiating an inquiry into whether to extend similar requirements to companies in the communications industry.
The Department of Health and Human Services Secretary Xavier Becerra and Department of Labor Acting Secretary Julie A. Su are calling on health insurance companies and group health plans to take concrete actions to save people time and money when interacting with their health coverage. The Office of Personnel Management plans to require Federal Employees Health Benefits and Postal Service Health Benefits plans, covering eight million Americans, to make it easier to submit out of network claims online, provide clear information about what health plan providers are in-network, and make it easier to find information on how to appeal claim denials.
To tackle customer service 'doom loops,' the Consumer Financial Protection Bureau will initiate a rule-making process that would require companies to let customers talk to a human seeking assistance by pressing a single button, instead of being sent through a number of menu options and automated recordings.
The FCC will launch an inquiry into considering similar requirements for phone, broadband, and cable companies, the White House said. HHS and DOL will similarly call on health plan providers to make it easier to talk to a customer service agent.
The FTC has proposed a rule that would stop marketers from using illicit review and endorsement practices such as using fake reviews, suppressing honest negative reviews, and paying for positive reviews
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.
Additionally, The White House is calling on Americans to share their ideas for how federal action can give them their time back. Interested parties are given the option to submit their ideas and comments at this portal: https://touchpoints.app.cloud.gov/touchpoints/1bf8d080/submit
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