T-Mobile to pay at least $48 million FCC settlement over data plan disclosures

T-Mobile U.S. Inc. will pay at least $48 million to settle a Federal Communications Commission investigation into whether the mobile service provider inadequately disclosed speed and data restrictions for its unlimited data plan. The investigation found that company policy allowed T-Mobile to slow data speeds when customers exceeded a monthly data threshold. The $48 million settlement includes a $7.5 million fine, at least $5 million in services and equipment to American schools, and $35.5 million in consumer benefits to T-Mobile and Metro PCS customers with unlimited plans. Eligible customers will receive notice about benefits from the settlement on Dec. 15. T-Mobile will also update its disclosures to explain its policy and who may be impacted, and the company must notify customers who are approaching the threshold. T-Mobile shares are down 0.9% in Wednesday trading, but up 20% for the year so far. The S&P 500 Index is up 4.9% for 2016 to date.

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