How to mute another player in Assassin's Creed Brotherhood multiplayer?

It is very disturbing to hear all players speaking in their microphones while playing the multiplayer mode.

Is there a way to disable these sounds?

To mute an obnoxious player:

hit start (pause)
select "Abstergo Agents" on the menu
press X on the player you want to mute
a symbol should appear by that person's name indicating they are muted / squelched

I believe this is available via the pause menu. I will try to get a screenshot or something.

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