Attorney General James Secures $500,000 from Bloomberg News for Deceiving Consumers about Subscriptions

NEW YORK – New York Attorney General Letitia James today secured $500,000 from Bloomberg L.P. (Bloomberg News) for failing to inform customers of subscription terms, including automatic renewals that came with drastic price increases. An investigation by the Office of the Attorney General (OAG) found that subscribers faced increasing fees without warning and that Bloomberg News made it difficult for users to cancel their subscriptions to its news website, Bloomberg.com. Bloomberg News failed to clearly disclose the Bloomberg.com subscription terms, provide consumers with the subscription acknowledgment required by New York law, or notify subscribers before automatic renewal. As a result, some consumers found themselves paying significantly increased amounts for subscriptions that they weren’t aware they still had. Under the settlement with OAG, Bloomberg News must pay $500,000 in penalties, change its subscription practices, and offer restitution to subscribers who complained or who canceled their subscriptions after they were automatically renewed.

“Tricking consumers into costly subscriptions with misleading terms is illegal in New York,” said Attorney General James. “Bloomberg News failed to inform consumers that the price of their subscription would increase significantly during an automatic renewal and made people jump through hoops to cancel. My office took action to get New Yorkers their money back and ensure consumers will be fully informed of their subscription terms.”

New York law requires subscription terms to be clearly disclosed to customers, including the minimum term, the fact that the subscription renews, and the cancellation policy. Businesses must also obtain consent for automatic renewals, provide a post-purchase acknowledgment, and offer an easy cancellation mechanism.  

Subscriptions to Bloomberg.com vary widely in price and can increase dramatically after an initial promotional period. A first-time subscription can cost $1.99 for the first three months but then increase automatically to $39.99 per month. Similarly, a student annual subscription cost $99 but automatically increased to $415 after graduation, with no warning.

The OAG’s investigation found that Bloomberg News did not clearly disclose the Bloomberg.com subscription terms to its consumers. Bloomberg News failed to clearly notify consumers that Bloomberg.com subscriptions dramatically increased in price after the initial trial period and automatically renewed. Bloomberg News also did not provide consumers with an adequate post-purchase acknowledgment and did not give them sufficient notice prior to renewal. Bloomberg News failed to adequately inform customers about how to cancel their Bloomberg.com subscriptions, made it difficult to find cancellation information, and did not refund annual subscriptions despite promising customers during sign up that they could “cancel any time.” 

Since 2021, Bloomberg News’ website and chatbot presented consumers with a maze of questions and options, forcing some consumers to click through multiple pages before reaching an option to cancel their Bloomberg.com subscriptions. Customers could also cancel by email or phone, but Bloomberg News did not inform subscribers they could do so until 2023.

The high price of subscriptions meant that customers who were misled by Bloomberg.com’s terms were charged significant amounts of money. In some cases, annual student plans jumped over $300 after graduation, with no warning. Other annual subscribers saw increases of over $100 when their subscriptions automatically renewed. Customers also complained that they were unaware the $1.99 monthly Bloomberg.com subscription they signed up for would turn into a $34.99 monthly subscription after an initial introductory period.

Under the settlement with OAG, Bloomberg News must pay $500,000 in penalties and provide refunds to eligible subscribers in New York and nationwide. Eligible subscribers include those who filed complaints with Bloomberg News, the Federal Trade Commission, Better Business Bureau, or OAG. Bloomberg News will also provide restitution to eligible consumers who canceled their subscriptions after they automatically renewed at a higher price. 

In addition to paying penalties to the state and providing refunds to consumers, Bloomberg News must improve its disclosures, obtain informed affirmative consent from subscribers, provide customers with acknowledgments that comply with the law and include cancellation and other information, and sufficiently notify consumers before their subscription renews.

This settlement is the latest in Attorney General James’ ongoing efforts to stop companies from taking advantage of New Yorkers with hard-to-cancel subscriptions. In October 2026, Attorney General James secured refunds for seniors misled by a free book scheme. In August 2026, Attorney General James secured $400,000 from online medication provider Thirty Madison for deceiving consumers with their subscription policy. In July 2026, Attorney General James secured $375,000 from 1-800-Flowers for failing to make clear the terms of their automatically renewing subscription service. In May 2025, Attorney General James secured $600,000 from Equinox Group for hard-to-cancel memberships for Equinox+, Equinox gyms, and Soul Cycle.

This matter was handled by Assistant Attorney General Gena Feist, Assistant Attorney General Laura Mumm, and former Assistant Attorney General Hanna Baek, under the supervision of Deputy Bureau Chief Clark Russell and Bureau Chief Kim Berger of the Bureau of Internet and Technology. The Bureau of Internet and Technology is a part of the Division for Economic Justice, which is led by Chief Deputy Attorney General Chris D’Angelo and overseen by First Deputy Attorney General Meghan Faux.