Biden to address helpline wait times in pro-consumer push By Reuters

By Andrea Shalal

WASHINGTON (Reuters) – The Biden administration on Monday unveiled new rules and efforts aimed at consumer frustrations ranging from hard-to-cancel subscriptions, cumbersome insurance forms and the inability to get a live customer service agent on the phone.

The “Time is Money” initiative aims to crack down on endless hold periods or deliberately complicated procedures that cost consumers money, said Neera Tanden, domestic policy adviser to US President Joe Biden.

She said it shouldn’t take 45 minutes to cancel a subscription that took just one click to order, and people shouldn’t be forced to print out complicated forms to make an insurance claim . They often opt out, she said, leaving companies to keep money that consumers could spend elsewhere.

“These seemingly small inconveniences don’t really happen by accident. They have huge financial consequences,” she said.

The push is part of an effort by Biden to ease the strain on voters’ pocketbooks amid lingering inflation concerns that have eroded support for the Democratic Party.

Vice President Kamala Harris, now the Democratic presidential nominee, is making a similar case as she campaigns across the country.

Business executives have been dismayed by what they see as efforts by Democrats to denigrate and over-regulate the industry. Republican presidential candidate Donald Trump has campaigned for freeing companies from regulatory burdens.

The new actions use existing government surveillance tools and are not intended to “embarrass corporations in general,” Tanden said. They do not require congressional approval, an official said, and some will be phased in over the coming months.

The Federal Trade Commission is accepting comments on a proposed rule that would require companies to make canceling a subscription or service as easy as signing up, the official said.

The Federal Communications Commission is moving Monday to set similar requirements for cable, broadband and cell phone services.

The Departments of Labor and Health and Human Services will also write to major health care companies and insurers urging them to allow consumers to submit forms online.

Several U.S. agencies are working on new rules that would require companies to give customers a single button to reach a real person instead of navigating a long, “fatal loop” phone tree, officials said.

The Consumer Financial Protection Bureau also plans to issue rules to curb “time-wasting chatbots” used by banks, the official said.