The Daily Money: Canceling subscriptions gets easier
Good morning! It’s Daniel de Visé with your Daily Money.
Ever been trapped into paying for a subscription or membership you no longer want or need? Breaking up with your gym or streaming service is about to get a little easier.
The Federal Trade Commission on Wednesday adopted a “click to cancel” rule that requires businesses to make it as easy to cancel a service as it was to sign up.
Signed up online? Click to cancel. Signed up in person? Cancel online or over the phone. Canceling the services has to be “at least as easy” as signing up, the FTC said, with no tricks or traps.
Biden touts student debt relief
Less than three weeks before Election Day, the White House plans to sidestep a jumble of legal challenges over its student loan forgiveness agenda to tout billions of dollars in new relief.
President Joe Biden lauded the latest tranche of debt cancellation – $4.7 billion for more than 60,000 student loan borrowers, according to administration officials – as a milestone in his efforts to reform the Public Service Loan Forgiveness program, Zachary Schermele reports.
The announcement planned for Thursday brings the number of borrowers who’ve had their loans forgiven under PSLF to more than 1 million, a major landmark following allegations of systemic mismanagement that plagued the program for years. It also underscores, once again, Democrats’ eagerness to demonstrate that the party has done its best to deliver on promises of student debt relief as the presidential election looms.
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Finally, here's a popular story that you may have missed. Read it! Share it!
The phone wasn't working.
Power and cell service had been out for a couple of days after Hurricane Helene, and Jeff Twersky was trying − again − to see if he could get a connection, Felecia Wellington Radel reports.
Twersky, 69, was with his wife, family and friends in Weaverville, North Carolina, when the hurricane hit. Roads were blocked, water was running out, and cellphone service was extremely limited.
Twersky went outside the night of Sept. 28, hoping he'd have more luck at the late hour in getting a connection on his iPhone 16. And suddenly, he had service.
A satellite mode or "satellite SOS" feature has been introduced on many newer mobile phone models. The feature allows users to text when cellular or Wi-Fi coverage is unavailable.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.