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Highlights
- FCC mandate: All cable and satellite TV providers are required to create transparent, clear pricing upfront.
- Deadline: April 10, 2024
- Verizon introduces "Broadband Facts" labels, akin to nutrition labels
- Itemizes monthly rates, speeds, fees, etc.
Verizon has launched its "Broadband Facts" labels for home internet offerings in an effort to enhance transparency in internet service selection.
Mimicking the straightforwardness of nutrition labels on food products, these FCC-mandated templates provide essential details about internet plans, including speed, price, data allowances, and more.
The aim is to simplify plan comparisons and facilitate an easier decision-making process for consumers.
It's important to note that they have modeled this transparency after the FCC came down on cable and satellite TV companies. All providers must comply by April 10.
Read more: FCC takes aim at hidden cable tv fees
Google Fiber led the way last fall, showcasing the labels across its residential tiers. The FCC's requirement extends to all major carriers for in-store and online products by April 10, 2024, while smaller carriers have until October 10, 2024.
Verizon also noted the labels don't immediately show discounts, promotions, and perks. However, customers can find these deals by following a link provided within the label for more details.
My take: Why not include labels for Verizon's wireless service?
Verizon's early adoption of the FCC's "Broadband Facts" labels marks a significant step toward greater transparency, but why did they exclude their wireless service?
Maybe that is something in the pipeline, so it could just be too early to tell.
Read more: [INSERT RELEVANT LINK]
Overall, I believe the telecoms industry has, by and large, ignored the best interests of its consumers.
While I find it encouraging to see major providers like Verizon leading the charge in customer education and empowerment, it's interesting that home internet is their focus.
If they really wanted a customer-centered approach, they would apply these labels to their cash cow, wireless service.
While the FCC shares the right sentiments, it is lagging behind in rolling out consumer-empowered decisions that matter now.
My team at MoneySavingPro and I have vetted providers so you can easily compare plans and make choices that best suit your needs and budgets.
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