White House launches broad new regulatory effort, as Harris prepares to unveil economic plan

• The Biden Administration unveiled a new, multi-agency regulatory effort to target corporate practices that officials claim are designed to waste consumers' time and needlessly burden them with red tape.
• "In all of these practices, the companies are delaying services to you, or really trying to make it so difficult for you to cancel the service, that they get to hold on to your money for longer and longer," said White House domestic policy advisor Neera Tanden.
• At the forefront of the new initiative is a series of Consumer Financial Protection Bureau rule-makings that would curb customer service "doom loops" and chatbots.

The Biden Administration on Monday unveiled a new, multi-agency regulatory initiative to target corporate practices that officials claim are designed to waste consumers' time and needlessly burden them with red tape, in order to maximize profits.

"I think we can all relate to this," White House domestic policy advisor Neera Tanden told reporters Friday.

"For example, you want to cancel your gym membership or subscription service or newspaper. It took one or two clicks to sign up. But now ... you have to go in person, or wait on hold for 20 minutes ... just to opt out," she said.

Dubbed the "Time is Money" initiative, the actions will make it easier for consumers to cancel subscriptions, get refunds, submit health care and insurance forms online, and access high-quality customer service.

The new initiative is being launched at a unique moment for the Biden administration. Democratic presidential nominee and Vice President Kamala Harris is preparing to unveil her presidential campaign's first economic policy plans this week.

Broad efforts like "Time is Money" could serve as opportunities for Harris to