New consumer protection rules launched in New York and proposed in Bosnia

New consumer protection regulations are being implemented in New York and proposed in Bosnia and Herzegovina to enhance digital rights and financial security.

In New York, a new ‘click-to-cancel’ rule has officially launched. This regulation requires digital services and platforms operating in the city to allow consumers to cancel subscriptions online with a single click. The measure aims to prevent predatory practices where companies make cancellation difficult by requiring phone calls or emails, thereby providing users with better control over their finances and personal data.

In Bosnia and Herzegovina, a draft amendment to the Consumer Credit Law has been introduced to align with European Directive 2023/2225. The draft proposes several protections, including prohibiting banks from using social media data to assess creditworthiness. It also grants consumers the right to request human review of decisions made through automated data processing. Additionally, the draft includes provisions for managing overdrafts, requiring a 30-day notice before reduction or removal and offering the option to repay amounts in 12 equal monthly installments.