https://www.msn.com/en-us/money/companies/verizon-vz-stock-trades-down-here-is-why/ar-AA24RnGp Bottom line Verizon sold customer location data and was fined $47 Million. Wonder how many employees Dan will lay off to cover this bone head move?
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Those people are gone ...
"The location data fines were officially issued on April 29, 2024, and the companies paid them later that same year before launching their legal appeals.
The timeline of the enforcement process developed as follows:
February 2020: The FCC first proposed the fines by issuing Notices of Apparent Liability.
April 29, 2024: The agency finalized its investigation and officially issued the Forfeiture Orders (the binding fines).
Late 2024: The carriers paid their respective fines. They chose to pay upfront so they could immediately sue the government in federal appeals courts to contest the unconstitutional nature of the penalty process.
The Violations: The FCC concluded that major telecom carriers—including Verizon, AT&T, and T-Mobile—unlawfully sold access to customers' real-time location data to third-party data aggregators without adequate safeguards or user consent.
The Fines: The FCC imposed a nearly $47 million penalty on Verizon and a $57 million penalty on AT&T (alongside an $80 million fine on T-Mobile)