UPDATE 1-FCC proposes to fine TracFone Wireless $6 million for subsidy violations [Reuters]
America Movil, S.A.B. de C.V. American Depositary Shares (each representing the right to receive twenty (20) Series B Shares (AMX)
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Source: Reuters
FCC proposes to fine TracFone Wireless $6 million for subsidy violations WASHINGTON (Reuters) - The Federal Communications Commission on Thursday proposed to fine TracFone Wireless $6 million for allegedly violating its rules governing the subsidy program for telecommunications services for low income users. The FCC said TracFone apparently claimed federal funding for customers “who were not actually determined to be eligible for the program.” The Lifeline program provides a monthly discount of up to $9.25 on broadband and phone service for qualifying low-income consumers. TracFone, a unit of America Movil ( AMXL.MX ), said it would respond “at the appropriate time. As the leading provider of Lifeline services, we take seriously our stewardship of public dollars and will continue to focus on connecting millions of low-income customers to school, jobs, healthcare, and essential social services.” The FCC investigation found that in 2018, TracFone apparently obtained federal support fo
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