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Federal regulators and Verizon Communications ( VZ ) reached a settlement over the broadband and wireless-phone company’s use of “super-cookies” that provide subscriber data for targeted advertising. Cookies track users’ browsing histories as they visit websites — as a means for Internet companies to target ads on subjects of interest to specific users. Verizon has agreed to pay a $1.35 million fine, the Federal Communications Commission said Monday. Verizon will be required to inform subscribers of the program’s existence and needs their permission to share data with third-party partners or internally. Verizon acquired AOL in June for $4.4 billion to gain digital advertising technology. Richard Young, a Verizon spokesman, said in a statement: “Over the past year, we have made several changes to our advertising programs that have provided consumers with even more options. Today’s settlement with the FCC recognizes that. We will continue to give customers the information they need to decide what programs and services are right for them.” The FCC started its probe in late 2014. In early 2015, the agency adopted new “net neutrality” rules, based on Title II of the Communications Act, that govern Internet service providers. “This is a win for consumers that will hopefully make companies think twice before engaging in practices that violate consumer privacy,” said U.S. Sen. Bill Nelson, D-Fla., in a statement. Verizon stock was up 1% in afternoon trading in the stock market today . The FCC is readying new privacy rules that would impact ISPs such as Verizon, AT&T ( T ) and Comcast ( CMCSA ). The FCC plans to enforce Section 222 of the Title II rules, which would require telecom carriers to protect the confidentiality of customer information. Scalper1 News
Scalper1 News