The White House announced today that President Obama is signing the Unlocking Consumer Choice and Wireless Competition Act in law allowing consumers to unlock cell phones from their carriers at the end of a contract.

The legislation allowing consumers to legally unlock a cell phone first passed the Senate on July 16th, then received approval again from the House of Representatives on July 25th before moving to the President’s desk today.

Senator Patrick Leahy and Jeff Zients, the Director of the National Ecomic Council, describe the implications of the new law:

Finally, the White House shared a statement from President Obama on the bill becoming law:

The most important part of this joint effort is that it will have a real impact. As long as their phone is compatible and they have complied with their contracts, consumers will now be able to enjoy the freedom of taking their mobile service — and a phone they already own — to the carrier that best fits their needs.