The Maui News - Weekender

FTC approves $5B fine for Facebook

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The FTC has voted to fine Facebook about $5 billion for privacy violations, the Wall Street Journal reported Friday.

Facebook and the FTC declined to comment. The Journal said the 3-2 vote broke along party lines, with Republican­s in support and Democrats opposed to the settlement.

In most cases the Justice Department’s civil division will review settlement­s by the FTC, and it is unclear how long the process would take.

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. Facebook has earmarked $3 billion for a potential fine and said in April it was anticipati­ng having to pay up to $5 billion.

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.

 ?? AP photo ?? A Nike “Moon Shoe” is displayed at Sotheby’s auction house on Friday. Nike co-founder Bill Bowerman designed the shoe’s sole using his wife's waffle iron. Sotheby's expects the shoes to sell for $110,000 to $160,000.
AP photo A Nike “Moon Shoe” is displayed at Sotheby’s auction house on Friday. Nike co-founder Bill Bowerman designed the shoe’s sole using his wife's waffle iron. Sotheby's expects the shoes to sell for $110,000 to $160,000.

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