BREAKING NEWS ~ Phone company giants agree to $1.5 million settlement of credit law claims Chris Buell at 1:36 PM ET
AP is reporting that phone companies Sprint and AT&T have agreed to a $1.5 million settlement with the government over alleged violations of federal credit laws for customers in search of phone service.
UPDATE: The Federal Trade Commission announced the settlement Friday, in which Sprint and AT&T will pay $1.125 million and $365,000, respectively. The FTC charged the companies had failed to notify applicants for service of their rights under the Fair Credit Reporting Act. Documents relating to the charges are available here (Sprint) and here (AT&T). View the FTC press release. AP has more.
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