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FTC's 'Click to Cancel' Rule Could Cost $2.7 Billion for Businesses
The Federal Trade Commission's proposed click to cancel rule amendments would impose a one-time cost of $2.7 billion on businesses and have an annual effect on the national economy of at least $100 million, whether considering the amendments' cost or benefits, according to an economic report the online advertising industry's association presented to the FTC last month.
The $100 million threshold is significant because it would require the FTC to conduct and submit a cost-benefit analysis of its proposal to the Office of Management and Budget for review. The Interactive Advertising Bureau, which submitted the economic analysis, opposes the proposed amendments.
The FTC's proposal is designed to combat unfair or deceptive practices that make it difficult for consumers to opt out of products and services that they no longer want, or perhaps never wanted. The amendments, proposed in March, include requiring companies to provide clear information on a deal, ensuring companies get the consumers' consent to continue and requesting that companies provide a "click to cancel" option.
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