Amazon and the FTC have reached a settlement of $2.5% billion over claims the retail giant tricked users into purchasing Prime memberships. The lawsuit was actually filed back in 2023 under the Biden administration with the trial lasting just 3 days. CNBC senior markets correspondent Dom Chu joins us with more.Dom, what exactly were the terms of that agreement. This agreement includes a billion dollar in actual penalties and $1.5% billion in payouts to customers. That translates into roughly $51 for each pe ...

Settlement Overview - Amazon reached a $25 billion settlement with the FTC over Prime memberships [1] - The settlement includes $1 billion in penalties and $15 billion in payouts to customers [2] - Each qualifying customer will receive roughly $51 [2] Compliance Requirements - Amazon must provide clear disclosures about enrollment [2] - Amazon needs to get express consent before charging for a subscription [2] - Amazon must provide an easier way to cancel subscriptions [2] Legal Stance - Amazon did not admit any wrongdoing as part of the settlement [2]