Uber Faces FTC Consumer Protection Probe Over Subscriptions

Bloomberg11-28 03:11

(Bloomberg) -- The US Federal Trade Commission is looking into whether Uber Technologies Inc. violated consumer protection laws with its flagship subscription service. The FTC is investigating Uber ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUber Faces FTC Consumer Protection Probe Over Subscriptions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-28 03:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/uber-faces-ftc-consumer-protection-191104765.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The US Federal Trade Commission is looking into whether Uber Technologies Inc. violated consumer protection laws with its flagship subscription service. \nThe FTC is investigating Uber ...</p>\n\n<a href=\"https://finance.yahoo.com/news/uber-faces-ftc-consumer-protection-191104765.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1983260115.SGD","symbol_name":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/uber-faces-ftc-consumer-protection-191104765.html","article_id":"2486809486","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/6evkP.IreN4TGcAaON0SvQ--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_technology_68/a03b8d6714e14a77fbe1bc87e4e36172"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486809486","pubTimestamp":1732734664,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- The US Federal Trade Commission is looking into whether Uber Technologies Inc. violated consumer protection laws with its flagship subscription service.The FTC is investigating Uber after customers complained the company signed them up for the Uber One subscription product without their consent and made it difficult to cancel, according to documents viewed by Bloomberg. The investigation was opened earlier this year.The Uber One subscription program gives discounts on rides and delivery orders in exchange for an annual fee. About 25 million people subscribe to Uber One, the company said in October.Uber confirmed it has received inquiries about the program from the FTC and said it’s cooperating with the agency’s review.“We will continue to answer any questions the FTC may have about our cancellation policies,” said Uber spokesperson Noah Edwardsen in an emailed statement. “The Uber One cancellation process follows both the letter and the spirit of the law: Uber One members can easil","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4230":"旅客陆运","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","UBER":"优步","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","BK4588":"碎股","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","SG9999015978.USD":"利安颠覆性创新基金A","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","FTC":"First Trust Large Cap Growth Opp","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4536":"外卖概念","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","BK4535":"淡马锡持仓","BK4585":"ETF&股票定投概念","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","BK4550":"红杉资本持仓","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4503":"景林资产持仓","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4551":"寇图资本持仓","BK4022":"陆运","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","BK4505":"高瓴资本持仓","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H"},"translate_title":"Uber因订阅问题面临FTC消费者保护调查","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UBER":1,"FTC":1},"content_text":"(Bloomberg) -- The US Federal Trade Commission is looking into whether Uber Technologies Inc. violated consumer protection laws with its flagship subscription service. \nThe FTC is investigating Uber after customers complained the company signed them up for the Uber One subscription product without their consent and made it difficult to cancel, according to documents viewed by Bloomberg. The investigation was opened earlier this year.\nThe Uber One subscription program gives discounts on rides and delivery orders in exchange for an annual fee. About 25 million people subscribe to Uber One, the company said in October.\nUber confirmed it has received inquiries about the program from the FTC and said it’s cooperating with the agency’s review.  \n“We will continue to answer any questions the FTC may have about our cancellation policies,” said Uber spokesperson Noah Edwardsen in an emailed statement. “The Uber One cancellation process follows both the letter and the spirit of the law: Uber One members can easily cancel their membership in the app — in fact, the majority of those cancellations take 20 seconds or less.” \nThe FTC declined to comment.\nUber shares erased earlier gains and were virtually unchanged on Wednesday.\nSubscription Terms\nThe FTC enforces consumer protection laws against companies that mislead consumers about subscription terms. The agency has recently sued several companies, including Amazon.com Inc. and Adobe Inc., for allegedly making it too difficult to cancel subscriptions. \nFTC consumer protection probes don’t always lead to enforcement actions. The agency often seeks monetary penalties in settlements because its ability to win fines in court is limited and was pared back further by a 2021 Supreme Court decision.\nEarlier this year, the agency voted 3-2 to finalize a rule that would force businesses to make it easier for consumers to cancel, with both of the agency’s Republicans dissenting. The rule is now wrapped up in litigation after being challenged by business groups.\nEnforcement agencies in the waning days of an administration often seek to wrap up probes, even as officials likely to remain with the incoming team push for delays.\nDays after the Nov. 5 presidential election, the FTC sent a proposed complaint to Uber seeking to resolve the investigation via a settlement and asked for a response within a week. Uber made a counter proposal. \nThe FTC’s settlement offer sought an “enormous monetary amount” for alleged violations of the law less than two months after the agency opened its probe, according to a letter Uber’s outside counsel sent to the agency’s five commissioners complaining about the rushed negotiations. \nUber Counteroffer\nUber’s lawyers said its counteroffer to was rejected by the staff. The attorneys criticized the agency’s staff for “attempting to cram through any case in record time” ahead of Donald Trump taking office in January.  \nRepublican FTC Commissioner Melissa Holyoak forwarded the letter in an email to all of the FTC’s consumer protection staff, saying she found the allegations “highly concerning” and a potential “rush to judgment before the upcoming change in administration.” She requested the consumer protection staff provide an update on all cases it is seeking to resolve in the next two months.\nHolyoak is under consideration to become the FTC’s chair once Trump takes office, along with her fellow Republican Commissioner Andrew Ferguson and a number of outside candidates, Bloomberg has reported. The president-elect has yet to name a new head for the agency.\nHolyoak declined to comment.\n--With assistance from Lynn Doan.\n(Updates with shares in seventh paragraph.)\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486809486"}