Verizon, Sprint To Pay $158M To Settle Charges Of 'Cramming'

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This sure doesn't seem like a lot of money for nine years worth of cramming. Does it?

"Sprint and Verizon had flawed billing systems that allowed merchants to add unauthorized charges to wireless customer bills," CFPB Director Richard Cordray said in a statement. "Today's actions will put $120 million back into the pockets of harmed consumers and require these companies to improve their billing practices going forward."
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I'm waiting on the $5 Verizon gift card (for a service I don't have anymore).
 
This is the problem, when a company gets busted they only have to pay part of the money they improperly earned, they should have to return it all, and then pay a fine on top of that, otherwise why shouldn't they continue illegal practices?

I mean if I could steal $10,000 from a bank and if caught I would be requried to give the bank back $2000 and be fined $500 I would rob 8 banks a day.
 
DarkStar_WNY said:
This is the problem, when a company gets busted they only have to pay part of the money they improperly earned, they should have to return it all, and then pay a fine on top of that, otherwise why shouldn't they continue illegal practices?

I mean if I could steal $10,000 from a bank and if caught I would be requried to give the bank back $2000 and be fined $500 I would rob 8 banks a day.
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Yep. The benefits for the company outweigh the consequences. They still pulled a profit, even with the fines. Their weigh these risks vs. benefits when they do stuff like that. Many companies do the same thing. If/when they get caught, the punishment and fines are minor compared to what they gained.
 
DarkStar_WNY said:
This is the problem, when a company gets busted they only have to pay part of the money they improperly earned, they should have to return it all, and then pay a fine on top of that, otherwise why shouldn't they continue illegal practices?
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So much of this. All profits from it should be taken away and returned.
 
Paying back the profits. Hell. Why are we not seeing anyone going to jail? I had that happen at work. There was a 40 dollar a mouth charge for some support crap. I called our phone company and tried to get it cancelled and they where like you have to call the place you ordered it from. I told the phone company that I never ordered it. I spent 2 mouths trying to get it cancelled. I am sure we never will recoup all of our money. Its fraud pure and simple that the phone companies willingly participate in because they get a cut in the profit.
 
DarkStar_WNY said:
This is the problem, when a company gets busted they only have to pay part of the money they improperly earned, they should have to return it all, and then pay a fine on top of that, otherwise why shouldn't they continue illegal practices?

I mean if I could steal $10,000 from a bank and if caught I would be requried to give the bank back $2000 and be fined $500 I would rob 8 banks a day.
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The difference is you don't pay the salary of politicians in Washington, and you can't tout the catch phrase "job killer."

Because if there was a way you could swing it to where it would kill jobs if you weren't allowed to rob banks the republicans would have your back!
 
jkerr2 said:
Paying back the profits. Hell. Why are we not seeing anyone going to jail? I had that happen at work. There was a 40 dollar a mouth charge for some support crap. I called our phone company and tried to get it cancelled and they where like you have to call the place you ordered it from. I told the phone company that I never ordered it. I spent 2 mouths trying to get it cancelled. I am sure we never will recoup all of our money. Its fraud pure and simple that the phone companies willingly participate in because they get a cut in the profit.
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Reminds me of a something that happened to us several years ago.

One of these subscription based vitamin services called looking for my wife one day saying they had a special offer for BoA CC holders, she wasn't home and I told them that I am not an authorized user on that card (we maintain seperate cards) and that we are not interested in their service.

A few months later a charge for $69, or some such, from the company showed up my wife's CC statement, thankfully she goes over them very closely.So my wife calls the bank and asks about the charge, and when she tells me about it I remember the call, and the fact that I told the telemarker the above and when she tells the bank's customer service person they stated "But the company said you authorized it" which was a lie.

The kicker is, on further questioning, Bank of America has some sort of deal with this company and actually had sold them our name in the first place, and when they told the bank my wife okayed it the bank actually gave them our credit card information so they could enter the charge.

Seriously, WTF??!?

Needless to say we haven't done business with BoA since.
 
OEM said:
The difference is you don't pay the salary of politicians in Washington, and you can't tout the catch phrase "job killer."

Because if there was a way you could swing it to where it would kill jobs if you weren't allowed to rob banks the republicans would have your back!
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Sorry but this isn't a partisan issue, both parties are bought and paid for, the only difference being what political leanings they fake in public.

You comment makes me think of Charles Rangel showing up, in a limo. at an occupy wall street rally to voice his support for it and his disgust at the financial community. Once he was done speaking he got back in his limo which drove him to a campaign fundraiser for himself where Wall St executes paid $1500 a plate to support him and his re-election.
 
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