This week, the Federal Trade Commission (FTC) reportedly voted to approve a $5 billion settlement with Facebook. The fine follows a probe into Facebook’s data practices, and whether the company violated the terms of a 2012 agreement.
“This record-breaking fine highlights the importance of data stewardship in the digital age. The FTC has put all companies on notice that they must safeguard personal information,” said Nuala O’Connor, Center for Democracy & Technology (CDT) President & CEO.
Continued O’Connor, “Privacy regulation in the U.S. is broken. While large after-the-fact fines matter, what is much more important is strong, clear rules to protect consumers. Congress must pass a comprehensive federal privacy law this year.”
CDT looks forward to learning the final terms of the settlement, which are expected to include further restrictions on how Facebook manages user data.