24Hip-Hop
  • HOME
  • Music
  • Videos
  • News
  • Interviews
  • Sports
  • Album
No Result
View All Result
24Hip-Hop
  • HOME
  • Music
  • Videos
  • News
  • Interviews
  • Sports
  • Album
No Result
View All Result
No Result
View All Result
24Hip-Hop

Facebook Fined $5 Billion USD by the FTC

Denis by Denis
July 13, 2019
in E!News
Share on FacebookShare on Twitter

Facebook Fined $5 Billion USD by the FTC

The Wall Street Journal reports Facebook and the Federal Trade Commission (FTC) reached a settlement of $5 billion USD over repeated privacy violations. The FTC voted this week to approve the settlement as it has transferred over to the Justice Department’s civil division for review.

According to The Journal, three Republican administrators were in favor of the settlement while two Democratic commissioners voting against it. It is currently unknown how long it will take the courts to review, and Facebook has declined comments.

Breaking: The FTC voted to approve a roughly $5 billion settlement with Facebook over a long-running probe into the tech giant's privacy missteps https://t.co/2ljcKvBTzQ

— The Wall Street Journal (@WSJ) July 12, 2019

Last year, the FTC opened a new investigation after Facebook was accused of not protecting user data from being used without consent by British political consulting firm Cambridge Analytica, which was putting together voter profiles for Donald Trump’s campaign. The social media platform also suffered a data security breach that led to the exposure of almost 50 million users’ personal information.

If the FTC decides to go with the expected penalty, it would be a record for them against a technology company — its previous record was $22 million USD against Google for misrepresentation of how its tracking tools were used. Such a move would indicate the US government’s willingness to finally crack down on big tech companies, a stance Europe has taken for a while already. However, while $5 billion USD sounds like a very big sum of money, compared to Facebook’s annual revenue of $56 billion USD, the penalty might seem too little for some. As Matt Stoler, fellow at the Open Markets Institute comments, “This would be a joke of a fine — a two-weeks-of-revenue, parking-ticket-level penalty for destroying democracy.”

Since the figures are just expectations from Facebook, the company did also state that “the matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome.” We’ll have to wait and see what the FTC conclusively decides.

Tags: Facebook
Previous Post

R. Kelly’s Daughter Contemplated Suicide Amid Social Media Bullying

Next Post

Thaddeus Young Signed a 3-year, $41M Deal With The Chicago Bulls

RELATED POSTS

CamOnTimin Drops Back-to-Back Heat with “Apart” and “Game” — The 19-Year-Old Artist from Indianapolis is Coming for the Crown
E!News

CamOnTimin Drops Back-to-Back Heat with “Apart” and “Game” — The 19-Year-Old Artist from Indianapolis is Coming for the Crown

June 17, 2025
Staying True: How Laquann Childress Turns Life Into Music
E!News

Staying True: How Laquann Childress Turns Life Into Music

June 16, 2025
Next Post
Thaddeus Young Signed a 3-year, $41M Deal With The Chicago Bulls

Thaddeus Young Signed a 3-year, $41M Deal With The Chicago Bulls

Leave Comment

TOP PICKS

  • Meet Amir Kenzo, The Young Musical Artist On Top Of The Music Charts

    Meet Amir Kenzo, The Young Musical Artist On Top Of The Music Charts

    13082 shares
    Share 5233 Tweet 3271
  • Celebrity Recording Artist MaxWidBandz: Out the Mud, Out the Matrix

    4209 shares
    Share 1684 Tweet 1052
  • Vic Marie Joins Forces with Diddy, 21 Savage, and More for a Love-Focused Album

    4164 shares
    Share 1666 Tweet 1041
  • Breaking News: Amir Eight Revolutionizes the Music Industry with Musixsale Record Label

    3936 shares
    Share 1574 Tweet 984

24HH

  • About
  • Advertise
  • Privacy & Policy
  • Submit Music
  • Contact
  • DMCA
  • Terms of Use

FOLLOW

No Result
View All Result
  • HOME
  • Music
  • Videos
  • News
  • Interviews
  • Sports
  • Album

 

Loading Comments...