FTC Charges Adobe with Hiding Fees and Blocking Subscription Cancellations
The FTC has taken action against Adobe and two executives for deceiving consumers by hiding early termination fees and making it difficult to cancel subscriptions. Adobe allegedly steered consumers toward an annual subscription plan without adequately disclosing the high cost of early termination and created numerous hurdles for cancellations. The FTC claims these practices violate the Restore Online Shoppers’ Confidence Act. Read more here.
CFPB’s New Loan Protections to Curb Abusive Withdrawal Practices
The CFPB’s new protections for payday and installment loans, aimed at ending abusive withdrawal practices, are set to take effect on March 30, 2025. The 2017 regulation, delayed by litigation, limits lenders to two failed withdrawal attempts before requiring borrower authorization for further attempts. This rule aims to prevent junk fees and account closures resulting from repeated failed withdrawal attempts. Read more here.
