(12/07/2019) FTC Reportedly Hits Facebook With Record $5 Billion Settlement
After months of negotiations, the Federal Trade Commission fined Facebook a record-setting $5 billion on Friday for privacy violations, according to multiple reports.
If approved by the Justice Department's civil division, it will also be the first substantive punishment for Facebook in the US, where the tech industry has gone largely unregulated. But Washington has taken a harsher stance toward Silicon Valley lately, and Friday’s announcement marks its most aggressive action yet to curb its privacy overreaches.
- WIRED: FTC Reportedly Hits Facebook With Record $5 Billion Settlement (12/07/2019)