Time Warner Cable Fined Over Pricing Notices
The Federal Trade Commission on Thursday said Time Warner Cable Inc. has agreed to pay $1.9 million to settle the first case brought under the commission's risk-based pricing rule.
Under the rule, completed in 2011, creditors must notify customers of higher charges that are based on less-than- favorable credit histories.
"Consumers have the right to know if they are paying more for something because of information in their credit report," said Jessica Rich, director of the FTC's Bureau of Consumer Protection. "Getting this notice gives you a right to a free copy of your report, so you can make sure everything on it is correct. Some of Time Warner Cable's customers were missing out on this important right."
In addition to agreeing to pay the penalty, Time Warner Cable is also prohibited from breaking the rule again, the FTC said.
"We are pleased to have resolved this matter so that we can focus all of our efforts on providing outstanding services to our customers," Time Warner Cable spokesman Eric Mangan said.
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