Verizon $25 Million Settlement Ends Investigation Over Fees

Verizon has paid a fine of $25 million to the U.S. Treasury to settle a case of overcharging its customers with the Federal Communications Commissions.

Under the settlement, the company has also agreed to pay $52 million in refunds to all the 15 million customers the company overcharged.

The settlement comes after the FCC launched an investigation into the 'pay-as-you-go' data plan that overcharged the customers for data usage.

FCC chairman Julius Genachowski said in a statement: “People shouldn’t find mystery fees when they open their phone bills, and they certainly shouldn’t have to pay for services they didn’t want and didn’t use.”

The company has also released a statement, publicly admitting to and apologising for overcharging its customers.

Verizon added that it had already began the refund process for its customers. Existing subscribers will be notified in the upcoming bills that will receive credits in their bill. People who are no longer on its network will receive a refund cheque in the post.