Verizon Wireless announced three days ago its intentions to reach an agreement with consumer groups and regulators in order to reduce the fees charged when users decide to cancel their cell phone service before their contracts expire.

Kevin Martin, chairman of the Federal Communications Commission, explained according to Reuters, that there has been a substantial progress in the discussions concerning this topic and that the plan to build a national framework with consumer protections will be good for both consumers and industry.

At this moment, wireless companies charge subscribers who want to terminate their contract early a fee starting at $175. While people consider these fees unnecessary and see them as a way of preventing subscribers to change their service providers, Verizon Wireless, AT&T Inc, Sprint Nextel Corp and other wireless carriers say that the fees are used to cover some of the cost of the cell phones that are sold cheaper to subscribers, as well as the costs of signing up new customers in the network.

If the Federal Communications Commission will decide to move forward with the regulation of the cancellation fees, it will set a national standard that will make things clearer for everybody. Currently each state offers its own regulations. On the other hand, consumers will have to address their complaints directly to the FCC, which has scored poorly on how it handles them.

Verizon spokesman David Fish was quoted by the Wall Street Journal saying that "it makes more sense for wireless consumers and providers to have one set of clear and consistent guidelines, rather than a 50-state patchwork of regulations."