Dem lawmakers aren’t impressed with the $5 billion fine the FTC has given Facebook for failing to protect user privacy
The company, which is worth more than $580 billion, had already told shareholders that it expected a fine of the $3 billion to $5 billion. Critics of the terms said a penalty in that range would not be sufficient to force Facebook to change its ways without tough restrictions on how it obtains and uses people's data, and they saw no indications that the FTC had imposed any.
Facebook has been under the shadow of the FTC probe for more than a year. The agency last spring began investigating athat the political data firm Cambridge Analytica, which did work for Trump's 2016 campaign, improperly obtained information on some 50 million Facebook users via an academic researcher. That number was later revised upward to as many 87 million affected users.
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