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Amazon cuts $2.5B settlement with FTC over allegedly trapping customers in Prime subscriptions

Amazon has agreed to a 2.5billionsettlementwiththeFederalTradeCommissionoverchargesthatitknowinglytrappedcustomersintopayingforPrimesubscriptions,theagencyannouncedThursday.Theecommercegiantwillpaya2.5 billion settlement with the Federal Trade Commission over charges that it knowingly trapped customers into paying for Prime subscriptions, the agency announced Thursday.The ecommerce giant will pay a 1 billion civil penalty and pledge another $1.5 billion in refunds to customers who were harmed by its conduct, the FTC said in a release. Amazon will also “cease unlawful enrollment and cancellation practices for Prime.”About 35 million consumers were affected by Amazon’s alleged m ...