Market Chatter: Uber in FTC Crosshairs Over Issues With Uber One Subscription

MT Newswires Live11-28 04:59

Uber Technologies (UBER) is the subject of a Federal Trade Commission investigation that the ride-hailing company is signing up customers for its Uber One subscription service without their knowledge along with other potential violations of consumer protection laws, Bloomberg reported Wednesday, citing agency documents it reviewed.

The company is cooperating with the probe, according to the report, which said the FTC is also trying to determine whether the company makes it overly difficult for users to cancel those subscriptions. Uber dismissed those assertions, telling Bloomberg that most users can cancel their subscription in 20 seconds or less.

Uber and FTC did not immediately respond to requests from MT Newswires seeking comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 71.70, Change: +0.13, Percent Change: +0.19

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