00:00The Biden-Harris administration says it wants to stop corporations from wasting your time.
00:05On Monday, the White House announced a new initiative called Time is Money.
00:09It's intended to cut down on consumer-facing corporate red tape, like, to quote from the
00:13administration's statement, being forced to wait on hold just to get the refund we're owed,
00:18and the hoops and hurdles to cancel a gym membership or subscription.
00:22The initiative includes several specific new policies. For example,
00:25the Federal Trade Commission is proposing a rule requiring companies to make ending
00:29a subscription as easy as signing up for one. The Consumer Financial Protection Bureau is
00:33working on instituting a rule requiring companies under its jurisdiction to let customers access a
00:38human service representative with the press of one button. And these new rules touch on AI as well.
00:44The CFPB is also planning on cracking down on unhelpful chatbots.
00:48Throughout its statement, the White House credits these proposals to both President
00:51Biden and Vice President Harris, possibly indicating a desire to boost Vice President
00:56Harris' profile now that the Democratic Party has nominated her for the presidency.
01:00According to CNBC, the Harris campaign is expected to present its own economic policy agenda this week.
