Nynex Denies Overcharging: The FCC has proposed...

Nynex Denies Overcharging: The FCC has proposed punishing Nynex’s New York Telephone and New England Telephone subsidiaries by ordering $35 million in refunds and $1.4 million in fines for allegedly overcharging telephone customers by $118.5 million. The penalty, the largest ever levied by the FCC, was prompted by payments made by the phone companies for equipment purchased from Materiel Enterprises, an unregulated Nynex subsidiary. Nynex, in its response, denied the charge and said its customers had benefited from the purchases.