Facebook Settlement a 'Watershed Moment' for Privacy Enforcement, Says FTC [TheStreet.com]
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Source: TheStreet.com
Facebook Settlement a 'Watershed Moment' for Privacy Enforcement, Says FTC Facebook's $5 billion settlement with the Federal Trade Commission (FTC) marks a turning point for privacy enforcement by the agency, officials claimed on Wednesday. In a press conference, a group of FTC commissioners and enforcement officials hailed the deal as a comprehensive settlement that will deter future infractions by establishing a privacy regime at the scandal-marred social media firm. Facebook ( FB Get Report TheStreet will be will be live-blogging Facebook's second-quarter report on Wednesday after the close. Please check our home page then to join! "The enormity of this penalty resets the baseline for privacy cases and deters future violations," said FTC chairman Joseph Simons. "Once you take into account what our actual authority is, this is a great result." The $5 billion fine represents a fraction of Facebook's annual revenue, which was $55.8 billion in 2018. But the settlement also mandates tha
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