The U.S. Federal Trade Commission is expected to announce a roughly $5 billion s...
FILE PHOTO: Attendees walk past a Facebook logo during Facebook Inc's F8 developers conference in San Jose, California, U.S., April 30, 2019. REUTERS/Stephen Lam/File Photo
The FTC, Justice Department and Facebook declined to comment. The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. Reuters and other outlets reported July 12 that the FTC had voted to approve the settlement but was awaiting the concurrence of the Justice Department.
Some in Congress have criticized the reported $5 billion penalty, noting Facebook in 2018 had $55.8 billion in revenue and $22.1 billion in net income. Senator Marsha Blackburn said last week the fine should be “$50 billion.”
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