Money Minute: FTC Accuses T-Mobile of Bogus Billing

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T-Mobile duped subscribers for hundreds of millions of dollars in bogus fees, according to the Federal Trade Commission.

If you're a T-Mobile subscriber you may want to take a closer look at your past bills to see if there were any unusual charges. The FTC accuses the mobile carrier of knowingly allowing third parties to text their customers without their consent. The information texted tended to be things like celebrity gossip, flirting tips and horoscope information. Customers were typically charged $9.99 a month but the FTC says T-Mobile US (TMUS) made it hard for customers to detect the charges. T-Mobile allegedly got 30 to 40 percent of the third party fees. The FTC's goal is for customers to get refunded for any unwarranted fees so again check your billing statements.

Inside A T-Mobile Store Ahead Of Earnings Figures
Patrick T. Fallon/Bloomberg via Getty ImagesA customer is helped at a T-Mobile store in Torrance, Calif.
The popular dating app Tinder has just been slapped with a sexual harassment and discrimination lawsuit by a former executive. Whitney Wolfe who helped found the company alleges the company's chief executive and chief marketing officer subjected her to a barrage of sexist and inappropriate comments. She also claims her status as co-founder was stripped away from her because of her gender. The company says it is conducting an internal investigation and has found inappropriate messages sent from the chief marketing officer to Wolfe.

Here on Wall Street on Tuesday, the Dow and the S&P 500 hit new records. The Dow Jones industrial average (^DJI) gained 129 points, the Nasdaq composite (^IXIC) picked up 50 and the Standard & Poor's 500 index (^GPSC) was up by 13 points.

Google (GOOG) is making a deeper push into the music streaming business. The company has just bought streaming radio service Songza for an undisclosed sum. Songza creates free playlists for listeners based on the activities they will be doing and the time of day. For now Songza will remain as is but down the road it will become a part of Google's subscription streaming music service Play Music All Access. Google's move follows Apple (AAPL) recent acquisition of Beats Electronics, which also has a streaming service.

And finally, JPMorgan Chase's (JPM) CEO Jamie Dimon has just revealed he has curable throat cancer and will begin treatment shortly. He is expected to undergo treatment for about eight weeks but plans on being a part of the daily operations of the bank during that time. Dimon has been both chief executive and chairman of the board at the banking giant for eight years.

Editor's note: The Money Minute and After Market reports will be on hiatus Thursday and Friday for the Fourth of July holiday. They will resume Monday.

-Produced by Karina Huber.

The 7 Best Things to Buy in July
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Money Minute: FTC Accuses T-Mobile of Bogus Billing
It's time to hit the thrift stores, consignment shops and furniture outlets. Now that most people have done their spring cleaning and renovating, their used furniture is on the market. That means a hefty supply, plus low prices since stores only have so much space. You can also find discounted new furniture in July, because the next year's models arrive in stores in early August. Don't be afraid to try to negotiate on prices. It often works.
Electronics -- computers and tablets specifically -- see decreases in price starting in early July. These prices continue to drop as the school year gets closer, and best way to stay on top of the hottest deals is to sign up for e-newsletters from retailers. Remember to take advantage of company and educational discounts that may be available to you, and to negotiate for free or discounted accessories.
Bottled water goes on sale throughout July as a lure to get you into stores. it also gets purchased more frequently throughout the summer -- the natural result of barbecue and picnic season, when people entertain and spend more time outdoors. So if you drink bottled water year-round, stock up now.
If you can manage, hold off purchasing your new grill until after the Fourth of July, when mark-downs approach 50 percent off. This applies to grilling accessories, too, including grill baskets and utensils. Also, check consignment shops and thrift stores. Many people buy new grills for the Fourth of July and donate or sell their old ones.
Speaking of grilling, among the hottest buys during July are condiments for burgers and hot dogs: mustard, ketchup, relish, sour cream, sauerkraut, mayonnaise and pickles, etc. Buy in bulk, and pair in-store specials with coupons for super-low prices on these summer must-haves.
If you're in the market for a sweet new pair of jeans, July is the best time to buy them. Few people buy jeans during one of the hottest months of the year, so retailers put them on sale to move them. Stores also get new jeans in the late summer in anticipation of fall shopping season, so they're eager to sell old ones to make room for new duds.
Formal suits are also seldom purchased during the middle of summer. Consequently, many suit retailers will hold sales to keep business moving. If you have an upcoming formal wedding to attend -- or if you simply need new suits for work and special occasions -- July is the best time to buy.
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