New York (The Verge) — Breaking: Facebook reportedly reaches a $5 billion settlement with the Federal Trade Commission theverge.com/2019/7/12/2069….
The Justice Department is now considering the settlement, the Wall Street Journal reports. It would be the largest fine in FTC history.
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 will require of Facebook.
In April, Facebook said it had set aside $3 billion as part of an expected FTC fine. The settlement, details of which were first reported by The Washington Post in February, is expected to relate primarily to the 2018 Cambridge Analytica data privacy scandal, as well as the seemingly never-ending series of subsequent breaches and leaks that have dogged Facebook in the months since. — Casey Newton/@verge