Most would agree that early termination fees are a drag, not to mention a serious gut punch. Long term contracts typically hold consumers liable for anywhere from $150 to $350 to ditch a carrier before the service agreement expires, and according to some in Congress, that just isn't fair.
Enter Sen. Amy Klobuchar (D-Minn.), who today introduced a bill to set limits on early termination fees cell phone carriers are able to charge. Klobuchar, along with Sens. Russ Feingold (D-Wis.), Jim Webb (D-Va.), and Mark Begich (D-Alaska) say the fees are "budget-busters."
"Changing your wireless provider shouldn't break the bank," Klobuchar said. "Forcing consumers to pay outrageous fees bearing little to no relation to the cost of their handset devices is anti-consumer and anti-competitive.
Begich added that "in these tough economic times, the last thing consumers need is to see rates doubled for no apparent reason." His remarks are in reference to Verizon recently increasing the early termination fee from $175 to $350, a policy which became official in mid-November.
HIt the jump to see what Verizon had to say on the matter.
