Verizon has finally agreed on a settlement figure with the U.S. government for overcharging its customers. The cell phone carrier is to pay $25 million to the Treasury on top of the $52.8 million that Big Red is to pay out to customers, which we discussed in a recent article.
Telecom companies having to pay large fines are nothing new, but it will not be the last time that it happens. The funny thing is, a fine that large is a drop in the ocean to the likes of Verizon Wireless, and will not be missed too much.
Ian Paul from PC World has been looking into this and believes that this will not change anything, saying that “things could get a whole lot worse”, which is certainly a worry if he is correct. This is due to the fact that the likes of AT&T and Sprint is to offer a way for you to charge your account for purchasing music and movies, with interest rates being almost the same as credit cards.
There seems to be no-end to how cell phone carriers aim to make money from its customers, I have a good idea — how about improving on network coverage, speed and customer service?
Do you think that the likes of Verizon and other carriers will ever stop overcharging their customers?