Estimated reading time: 8 minutes.
Key facts
- Who: Bloomberg L.P., publisher of Bloomberg.com, and the New York Attorney General's Bureau of Internet and Technology.
- What: An Assurance of Discontinuance, No. 26-030, announced November 2, 2026, resolving an investigation into Bloomberg.com subscription sign-ups, renewals and cancellations.
- Money: Bloomberg agreed to pay $500,000 in penalties to New York and to make refunds to four groups of U.S. subscribers.
- Who may get a refund: U.S. subscribers who bought between February 9, 2021, and June 30, 2023, and meet one of four sets of conditions described below.
- How refunds work: Automatically. The agreement does not set up a claim form. Refunds go first to the payment method on file, followed by an email notice.
- Timing: Refunds are due within 90 days of the agreement's effective date.
- Admission: Bloomberg neither admits nor denies the Attorney General's findings.
In this article
- What the Attorney General announced
- How Bloomberg subscriptions were priced
- What the investigation found
- Who qualifies for a refund
- How refunds will be paid
- What Bloomberg must change
- The laws involved
- Part of a wider crackdown
- Frequently asked questions
Some former Bloomberg.com subscribers could see money returned to their cards in the coming months. New York Attorney General Letitia James announced on November 2, 2026, that Bloomberg L.P. agreed to pay $500,000 in penalties and refund eligible subscribers nationwide over how it sold and renewed digital subscriptions.
The deal is an Assurance of Discontinuance, a written agreement that lets the Attorney General close an investigation without filing a lawsuit. It is not a class action settlement, and no court approval or claim form is involved.
What the Attorney General announced
The Attorney General's office said Bloomberg failed to clearly tell customers about automatic renewals that came with large price increases and made it hard to cancel.
"Tricking consumers into costly subscriptions with misleading terms is illegal in New York," James said in the announcement. "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."
The agreement says the investigation covered conduct from at least February 2021. Bloomberg neither admits nor denies the office's findings, and we found no public statement from Bloomberg about the agreement at publication time.
The short version If you bought a Bloomberg.com subscription between February 9, 2021, and June 30, 2023, and canceled soon after a higher-priced renewal or complained about cancellation, you may get an automatic refund. You do not need to file anything.
How Bloomberg subscriptions were priced
Bloomberg.com subscriptions typically started at a promotional price for an introductory period and then renewed at full price. The agreement lists sample pricing, noting that prices varied over time:
| Plan | Starting price | Regular price | When the price changed |
|---|---|---|---|
| Monthly Digital | $1.99 | $34.99 | After three months |
| Monthly All Access | $4.99 | $39.99 | After three months |
| Annual Digital | $290 | $415 | After one year |
| Annual All Access | $330 | $475 | After one year |
| Monthly Student | $9.99 | $34.99 | After graduation |
| Annual Student | $99 | $415 | After graduation |
The press release describes a $1.99 subscription rising to $39.99 per month. The agreement's own table pairs $1.99 with $34.99 and $4.99 with $39.99, so we use the agreement's figures here.
What the investigation found
According to the Attorney General's findings, which Bloomberg does not admit:
- Unclear renewal terms. Offer pages did not clearly show how long the promotional price lasted, the higher price that followed, or that the subscription renewed automatically.
- "Cancel anytime" with limits. Bloomberg promoted that subscribers could cancel anytime, but its confirmation email said they had to cancel 24 or 48 hours before renewal to avoid the next charge. Annual subscribers who missed that window were charged for the full year, and customer service training materials said, "we DO NOT refund annual subscriptions."
- Hard-to-find cancellation. On April 9, 2021, Bloomberg launched a chatbot for cancellation requests and retired its web form. The findings say subscribers were sent to a Help Center page without being told they needed to find and open the chatbot, and logged-in users were shown a retention offer before cancellation was processed.
- Hidden options. Subscribers could cancel by email from at least February 2021, but Bloomberg did not tell them until February 2023. It processed phone cancellations from September 2020 without telling subscribers that phone was an option. An online cancel option arrived in May 2023.
- App purchases. People who subscribed through the Bloomberg app had to cancel through Apple or Google, which Bloomberg did not explain at sign-up.
The findings quote complaints, including a subscriber who said PayPal notified them of a $415 renewal charge for a plan they never intended to auto-renew.
Not a lawsuit, not a verdict These are findings in a negotiated agreement. No court has ruled on them, and Bloomberg neither admits nor denies them.
Who qualifies for a refund
The agreement creates four "Restitution Classes." All cover U.S. subscribers who bought between February 9, 2021, and June 30, 2023:
- Annual promo renewals. You bought at a promotional price, the plan auto-renewed for a year at a higher price, you canceled during that first renewal year, and you did not resubscribe within 12 months. Refund: up to $200, prorated from the first renewal charge.
- Monthly promo renewals. You bought a monthly plan at a promotional price, canceled within three months of your first full-price renewal, and did not resubscribe within 12 months. Refund: $15.
- Student plans. Your monthly or annual student plan renewed at a non-student price and you asked to cancel within three months of that first renewal. Refund: 50% of that first non-student renewal.
- Complainants. You complained about Bloomberg's cancellation policies to Bloomberg, the Attorney General, the Better Business Bureau or the Federal Trade Commission, and asked to cancel within six months before or after the complaint. Refund: all charges after the earlier of your complaint or first cancellation request.
If you fit more than one group, the agreement says you receive restitution for each. If Bloomberg already refunded you at least as much as you would get, you are excluded from that group.
How refunds will be paid
Refunds are due within 90 days of the agreement's effective date, which is the date the Attorney General's office signs it. That signing date was not legible in the copy we reviewed.
- Bloomberg first tries to refund the full amount to your last valid payment method on file, including by reversing a card charge.
- If that works, Bloomberg emails you within five business days with the amount and an explanation that it is restitution under the agreement.
- If the card refund fails, Bloomberg emails you a link to a Restitution Website, where you can choose a digital payment such as PayPal, Venmo or Zelle, or a paper check.
- If the email bounces or you do not choose within 30 days, Bloomberg looks up your mailing address and mails a check.
Uncashed checks are voided six months after they are issued, so deposit any check promptly.
Watch for scams The agreement does not require you to submit a form or pay a fee. Treat any message asking for a payment or full card number to "release" a Bloomberg refund with suspicion.
What Bloomberg must change
Within two months of the effective date, Bloomberg must:
- Clearly disclose subscription terms, including renewal prices and how to cancel, before collecting billing information.
- Obtain separate, affirmative consent to automatic renewal.
- Send a post-purchase acknowledgment that explains terms, cancellation and, for promotions, when the promotional price ends.
- Send renewal notices 15 to 45 days before non-monthly subscriptions renew.
- Offer easy cancellation, including online, and confirm cancellations in writing.
- Employ or designate a compliance officer and adopt written compliance policies.
Bloomberg must also pay the $500,000 penalty within 60 days of the effective date.
The laws involved
The Attorney General relied on New York General Business Law sections 349 and 350, which ban deceptive practices and false advertising, and section 527-a, New York's automatic renewal law. The office also cited the federal Restore Online Shoppers' Confidence Act (ROSCA), which requires clear disclosure, express consent and a simple way to stop recurring online charges, and Executive Law section 63(12), which lets the office act against repeated illegal conduct.
Part of a wider crackdown
The announcement lists earlier New York subscription cases, including $400,000 from online medication provider Thirty Madison in August 2026, $375,000 from 1-800-Flowers in July 2026 and $600,000 from Equinox Group in May 2025. Auto-renewal disputes also show up in private litigation, such as the YouTube TV automatic renewal settlement.
If you believe you were charged after canceling a different subscription, you can browse class action cases you can join. This article is for information only and is not legal advice.
Frequently asked questions
Do I need to file a claim for a Bloomberg.com refund?
No. The agreement requires Bloomberg to send refunds automatically to eligible subscribers, first to the payment method on file and then by digital payment or check if that fails.
How much is the Bloomberg refund?
It depends on your group: up to $200 prorated for annual promo renewals, $15 for monthly promo renewals, 50% of the first non-student renewal for student plans, or all charges after a complaint or first cancellation request for complainants.
Do I have to live in New York?
No. The refund groups cover U.S. subscribers who bought between February 9, 2021, and June 30, 2023, and meet the other conditions.
When will Bloomberg refunds be paid?
Within 90 days of the agreement's effective date, the date the Attorney General's office signs it. That date was not legible in the copy we reviewed.
Did Bloomberg admit wrongdoing?
No. Bloomberg neither admits nor denies the Attorney General's findings.
What if I subscribed through the Bloomberg app?
The agreement's refund groups are not limited to website purchases, but it does not spell out how app-store purchases are refunded. If you think you qualify and hear nothing, you can contact Bloomberg or the New York Attorney General's office.
