- The FTC and FCC had accused AT&T (T -1.4%) of collecting "hundreds of millions of dollars" worth of unauthorized charges on behalf of third parties selling ringtones, horoscopes, trivia, and other content/services that consumers never gave their consent to.
- AT&T is paying $80M in refunds to affected customers, as well as $20M to state authorities and $5M to federal authorities.
- The settlement amounts to a modest hit for a company expected to post 2014 revenue of $133.6B.