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Upset Man
(Illustration: CSA-Printstock / Getty)

FTC: Canceling your subscriptions just got easier

If youve ever tried to cancel a recurring subscription and found the process maddeningly difficult (which is usually by design), new rules are coming, and it should become a lot easier.

Today the Federal Trade Commission approved a final rule that aims to make canceling a subscription just as easy as it is to sign up for it in the first place.

The changes affect “negative option programs” that have a feature that “allows a seller to interpret a customer’s silence, or failure to take an affirmative action, as acceptance of an offer,” the new rule says. It takes effect in six months.

“Too often, businesses make people jump through endless hoops just to cancel a subscription. The FTC’s rule will end these tricks and traps, saving Americans time and money. Nobody should be stuck paying for a service they no longer want,” FTC Chair Lina Khan said in a press release announcing the changes.

The FTC said that it received thousands of consumer complaints about sneaky subscription tactics, citing that the agency received nearly 70 complaints on the topic per day on average in 2024 alone. Over 16,000 comments were submitted to the FTC’s request for public comment on the proposed change.

Companies offering subscriptions will also be prevented from:

  • Misrepresenting any details of an offer

  • Failing to disclose the terms before your payment info is collected

  • Failing to obtain your informed consent before charging you

  • Failing to offer a way to cancel thats as easy as the sign-up was and immediately halts charges

In June, the FTC sued Adobe for making it really hard to cancel subscriptions to the company’s Creative Cloud software. In addition to making it hard to find the controls for cancellation, the FTC took issue with hefty cancellation fees that it says were not disclosed clearly to consumers. In an unredacted complaint filed in the case, Adobe executives said such fees were “a bit like heroin for Adobe.”

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President Trump Hosts Crypto Summit At The White House

Report: White House AI oversight executive order DOA

After weeks of uncertainty, the White House’s plan to review frontier models before release appears dead.

Jon Keegan5/22/26
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Jon Keegan

Report: White House informed AI companies about plans for government to vet new models

After weeks of uncertainty about what role if any the White House would play in overseeing the release of new foundation models, this week top AI companies have been briefed on its plans, according to a new report from The Information.

The planned executive order describes a voluntary plan in which the National Security Agency, Office of the National Cyber Director, the White House Office of Science and Technology Policy, and Cybersecurity and Infrastructure Security Agency will decide which models to review, per the report.

The plan is reportedly less strict than AI companies had feared, but it does call for a 90-day testing period before release, a window that is substantially longer than the 14-day window that the companies wanted.

The new order could be signed as soon as this week.

The planned executive order describes a voluntary plan in which the National Security Agency, Office of the National Cyber Director, the White House Office of Science and Technology Policy, and Cybersecurity and Infrastructure Security Agency will decide which models to review, per the report.

The plan is reportedly less strict than AI companies had feared, but it does call for a 90-day testing period before release, a window that is substantially longer than the 14-day window that the companies wanted.

The new order could be signed as soon as this week.

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Rani Molla

Pension leaders overseeing more than $1 trillion in assets call SpaceX’s corporate structure “extreme”

SpaceX is gearing up for what is expected to be the biggest IPO in history — a $75 billion raise at a record $1.75 trillion valuation. But some of Wall Street’s biggest whales aren’t happy with the plan.

Leaders from three of the largest US public pension systems — New York State, New York City, and California — sent a letter to CEO Elon Musk on Wednesday, calling out the company’s planned corporate structure as extreme and the “most management-favorable governance structure ever brought to the US public markets at ⁠this scale.”

Among their concerns: Musk’s inviolability since only he can remove himself as CEO, the elimination of class-action lawsuits, and a Texas shield that could require a staggering 3% of outstanding stock just to file a derivative suit.

While the group has requested a meeting with Musk, it’s not clear if the $1 trillion they oversee is enough to force Musk to entertain their demands. These funds may be caught in an index trap.” As passive benchmark trackers, they’ll be forced to buy the stock once it lists, stripping them of any boycott leverage. And with a tiny ~5% float and the expected massive demand from retail and other investors, Musk may be able to ignore a few whales.

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Rani Molla

Nvidia, Tesla, Apple, Micron CEOs head to China with Trump

Executives from some of America’s biggest companies, including Apple, Tesla, and Boeing, are joining President Trump on his trip to China this week to help facilitate trade and investment between the countries. After a last-minute invite, Nvidia CEO Jensen Huang, who was initially snubbed, is also part of a trip aimed, in part, at resolving a prolonged import-export standoff between China and the US regarding AI and semiconductor technology.

Meta President and Vice Chairman Dina Powell McCormick is also going. Recently China blew up one of Meta’s major AI bets by unwinding the company’s acquisition of AI agent startup Manus.

In a post on Truth Social, Trump said the group was journeying to China to ask President Xi to “‘open up’ China so that these brilliant people can work their magic, and help bring the People’s Republic to an even higher level!”

He added, “I have never seen or heard of any idea that would be more beneficial to our incredible Countries!”

Here’s the full list of company executives, per Reuters:

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Jake Lahut

Iran discussing US proposal to reopen Strait of Hormuz, cease hostilities for 30 days: NYT

Iranian officials told The New York Times Thursday that they are discussing a one-page proposal with the United States to temporarily reopen the Strait of Hormuz for 30 days and cease hostilities for the same period of time.

The reopening would come in exchange for the US lifting its naval blockade and halting all hostilities for that period, per the Times. The strait would be open to commercial traffic if both sides agree to the deal, according to three Iranian officials who spoke with the NYT.

The US has not yet commented on this specific proposal.

Shortly after news broke of Iranian consideration of the proposal, the US struck oil ports on the island of Qeshm and the coastal city of Bandar Abbas, a US military official told Jennifer Griffin of Fox News. The strikes do not constitute a restarting of the war, the official said.

The reopening would come in exchange for the US lifting its naval blockade and halting all hostilities for that period, per the Times. The strait would be open to commercial traffic if both sides agree to the deal, according to three Iranian officials who spoke with the NYT.

The US has not yet commented on this specific proposal.

Shortly after news broke of Iranian consideration of the proposal, the US struck oil ports on the island of Qeshm and the coastal city of Bandar Abbas, a US military official told Jennifer Griffin of Fox News. The strikes do not constitute a restarting of the war, the official said.

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