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FCC reaches settlement with Verizon over E-rate probe

The Federal Communications Commission reached a settlement with Verizon Communications Inc. for possible violations of the agency's competitive bidding rules for the E-rate program.

As part of the settlement, the carrier agreed to pay about $17.7 million to resolve parallel investigations by the FCC and U.S. Department of Justice, the FCC said Oct. 17.

Verizon will also withdraw any rights it may have to hundreds of millions of dollars in requested and undisbursed E-rate support. The settlement follows an investigation into Verizon's involvement with New York City schools' use of the E-rate program.