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Verizon Wireless has agreed to pay $21 million to settle a class action lawsuit in California regarding its early termination fees. There's no word yet, though, on how (or when) Verizon customers might receive their share of the money.

"Early termination fees, charged when a wireless subscriber breaks a contract before it ends, have been in the sights of the Federal Communications Commission, where Chairman Kevin Martin wants to construct a national framework for the way they are assessed," note the WSJ's Roger Cheng and Fawn Johnson. "Mr. Martin has been pushing to establish federal regulations that would pro-rate or otherwise limit the termination fees charged by wireless carriers."

More here from The Inquirer ... more here from the AP ... more here from BloggingStocks ... and more here from InformationWeek.