Facebook reportedly reaches $5 billion settlement with the Federal Trade Commission

Facebook has reportedly reached a settlement with the Federal Trade Commission over repeated privacy violations, The Wall Street Journal reports. According to the Journal, the FTC voted this week to approve a $5 billion settlement, which has now moved to the Justice Department’s civil division for review. It is unclear how long the review will take.

A Facebook spokesman declined to comment or confirm the 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…

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Author: Casey Newton