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Facebook reportedly reaches $5 billion settlement with the Federal Trade Commission
Facebook has reportedly reached a settlement with the Federal Trade Commission over repeated privacy violations, The Wall Street Journal reports. According to the Journal, the FTC voted this week to approve a $5 billion settlement, which has now moved to the Justice Department’s civil division for review. It is unclear how long the review will take.
A Facebook spokesman declined to comment or confirm the report. The Washington Post and New York Times later confirmed the details in the Journal’s report.
The Journal reported that the FTC voted along party lines, with three Republican commissioners voting in favor of the settlement and two Democratic commissioners voting against it. Aside from the fine, it is unclear what the settlement…