NSA Spy Data Seen Costing Phone Carriers $60 Million a Year

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Verizon Communications Inc. and other U.S. carriers might have to spend as much as $60 million a year if they’re required to keep bulk phone records for the National Security Agency, a top Democratic Senator said.

Senator Dianne Feinstein, chairman of the Senate intelligence committee, said after a meeting today with President Barack Obama about limiting NSA surveillance programs that it would be too costly for phone companies to retain the metadata and might expose them to lawsuits.