Monica Eaton, CEO of Chargebacks911, was asked to weigh in on recent Federal Trade Commission rule changes in a feature for WBBJ Eyewitness 7 News.
WBBJ has a long tradition of serving the people of West Tennessee as the leading news, weather, sports and information service in the area. WBBJ-TV signed on in 1955 as a CBS affiliate and now is seen on both ABC and CBS affiliations, and their coverage area today includes territory from the Kentucky border to the Mississippi state line.
The FTC proposed changes to their negative option billing rules back in March. The ruleset, which has existed for more than five decades, will now require companies to have a “click to cancel” option for customers.
Even with simplified processes in place, customers will still routinely forget to cancel subscriptions they no longer want. When that happens, as Monica explains, their first response should be to contact the merchant.
“The bank will write off that transaction, so in other words, the consumer gets a refund for it,” she says. “The consumer thinks they cancelled it, but the charge is so expensive for their bank to process, that record never gets sent to the actual business.”
