US: FTC reportedly approves $5B settlement with Facebook

The Federal Trade Commission (FTC) has reportedly approved an approximately US$5 billion settlement with Facebook (FB), suggesting a lengthy investigation into the social media company’s data privacy practices could be nearing an end.

The FTC is said to have voted 3-2 in favor of the settlement, along party lines, The Wall Street Journal reported on Friday, July 12, citing unnamed sources familiar with the matter.

The FTC and Facebook declined to comment on the reports.

The federal agency first confirmed it was investigating Facebook’s privacy practices in the wake of the Cambridge Analytica scandal more than a year ago. Since then, Facebook has also come under public scrutiny for offering more of its users’ data to companies than it had previously admitted.

Full Content: Wall Street Journal

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