The rise of digital subscriptions and autopayments has brought convenience but also confusion, especially for overworked and senior citizens. Many consumers are faced with keeping track of an increasing number of autopayments linked to their bank accounts and credit cards. These can become a hidden financial drain, particularly when streaming services change or combine, creating overlaps. Furthermore, not all consumers have the capacity to track these payments effectively.

We propose legislation requiring companies to let consumers specify the termination date for the autopayment when they sign up for the service. This will allow customers to be aware of when their payments will end and plan accordingly.  A possible default option is one year following the last day of the month of your birthday to make it easy to remember and convenient for the companies.  Additionally, we propose that companies should be mandated to send a reminder notice alerting customers about upcoming termination one month in advance.

According to the Federal Reserve Bank of Boston's 2019 survey on consumer payment choice, 75% of all transactions were made digitally in some form (including credit cards), highlighting the widespread use and potential impact this issue has on consumers.

By implementing these changes in law, we can ensure transparency in digital transactions and protect consumers from unexpected financial burdens. Please sign this petition if you agree that it's time for more visibility around autopayments.