Subscribed Online? Youll Soon Be Able To Cancel Online, Too, FTC Says. [Video]

Consumers who dread the hassle of trying to cancel a subscription or membership they signed up for online will soon see some relief under a Federal Trade Commission rule finalized Wednesday.

Once the so-called click-to-cancel rule goes into effect, businesses will be required to offer ways of canceling services that are as fast and easy as the way a customer signed up, the FTC said.

FTC Chair Lina Khan said businesses often make consumers “jump through endless hoops” to cancel subscriptions, including those with recurring charges.

“The FTC’s rule will end these tricks and traps, saving Americans time and money. Nobody should be stuck paying for a service they no longer want,” Khan said.

The commission voted 3-2 in favor of adopting the rule, formally known as the “negative option” rule, where a customer’s failure to act or silence is interpreted as agreement. It would take effect six months after it is published in the government’s daily compendium …