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The Federal Trade Commission and Facebook have reportedly agreed on a $5 billion fine that would settle the FTC’s privacy investigation into the social network.
With Facebook having reported $15 billion in revenue last quarter, the $5 billion fine would amount to one month’s worth of revenue.
The FTC voted 3-2 to approve the settlement this week, with three yes votes from Republican commissioners and two no votes from Democrats, The Wall Street Journal reported today, citing anonymous sources. Democrats on the commission were “pushing for tougher oversight,” the Journal wrote.
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Source: Ars Technica – Facebook’s FTC fine will be billion—or one month’s worth of revenue