$5 Billion Fine Approved for Facebook

.

Justin Sullivan/Getty Images
Facebook CEO Mark Zuckerberg

The FTC has voted to approve a fine of about $5 billion for Facebook over privacy violations, the Wall Street Journal reported Friday. The report cited an unnamed person familiar with the matter.

Facebook declined to comment; the FTC did not immediately respond to messages for comment. The Journal said the 3-2 vote broke along party lines, with Republicans in support and Democrats in opposition to the fine.

The FTC report has been moved to the Justice Department for review, per the report. It is not clear how long it will take to finalize.

The fine would be the largest the FTC has levied on a tech company. But it won’t make much of a dent for Facebook, which had nearly $56 billion in revenue last year. The report did not say what else the settlement includes beyond the fine, though it is expected to include limits on how Facebook treats user privacy.

Read more HERE.

Published on July 12, 2019 at 8:08 pm by News Beat

Comments

July 14, 2019 - 1:55 am

VancouverTVGuy

Perhaps dinging Fakebook with heavier fines (say, somewhere in the eleven-figure range – as in tens of billions of dollars) would make more of an impact and send a message to Zuckerberg and company, not just over said privacy violations, but also to back off on their illegal censorship of anyone whose views they don’t like.


July 15, 2019 - 1:27 am

BMCQ

Chump Change !!

No More Message for FB or any of the rest, it is now time to act, it is Long Past Time to Break Up Big Tech !

Big Tech are already having a stifling affect on Western Democracies andcorher Free Nations, it is time to do something before it is too late .


Leave a Reply

Text Groove for Radio