FTC imposes $5 billion penalty and new privacy restrictions on Facebook

The Federal Trade Commission announced this morning that it has reached a settlement with Facebook over the FTC's charges that the company violated a 2012 FTC order by deceiving users about their ability to control the privacy of their personal information. Under the settlement, Facebook will pay a $5 billion penalty and submit to new restrictions and a modified corporate structure that will hold the company accountable for the decisions it makes about its users’ privacy.

The FTC's press release is here. The court order entering the settlement as a stipulation is here.

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