VERIZON WIRELESS SETTLES OVER EARLY TERMINATION FEES

Here's some great news for those who have committed to mobile phone contracts. According to the Wall Street journal, Verizon Wireless has agreed to settle a class action lawsuit and pay the sum of $21 million. The complaint was over early termination fees that Verizon charged to customers who terminated a contract before it expired. Mobile phone experts think that this concession by Verizon Wireless could encourage other network operators to settle disputes and avoid legal action from consumers. This move may also renew the FCC's efforts to create a governmental body to set federal regulations for the ETFs of mobile phone contracts.