Victory State Bank: You May Be Paying Too Much For Wireless Phone Service
STATEN ISLAND, N.Y. – It comes as no surprise that Victory State Bank uses telephones. Phones are a part everyone’s life.
When it comes to spending and saving dollars, Victory State Bank is at the forefront of consumer and business advocacy. That is why we are bringing the following fact to your attention: You may be overpaying for your phone service.
In response to a request by the Federal Communications Commission for comment, the Federal Trade Commission said that the “cramming” of unauthorized charges on wireless phone bills poses a serious problem for American consumers.
The FTC said in its comment that wireless providers should be required to give customers the option to block all third-party charges from their bills.
The FTC has extensive experience protecting consumers against the cramming of unauthorized charges on their landline telephone bills through aggressive law enforcement actions, and has advocated for reforms to eliminate landline cramming.
With regard to wireless cramming, the comment notes, in the past few years the FTC and FCC have reviewed thousands of complaints about unauthorized third-party charges on wireless bills. The number of reported complaints undoubtedly understates the full extent of wireless cramming by a substantial amount.
“Mobile cramming is likely to continue to grow as cramming schemes expand beyond the landline platform and mobile phones are more commonly used for payments,” the comment states.
Many of the complaints involve recurring charges of just under $10 a month for “premium services” that provide trivia or horoscope information by text message to a consumer’s phone, the comment states. Consumers often report receiving a text message informing them of a subscription to a service of which they have never heard and that they never requested.
About Victory State Bank:
VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com .
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