Two lawmakers urge the FTC to consider harsher penalties against Facebook

Two senators call on FTC to hit Facebook with more than a big fine

Two U.S. senators slammed the U.S. Federal Trade Commission for the prospect that it might fine Facebook Inc. The report refers to individuals acquainted with the discussions who state that in addition to the fact that they are unfit to come to an agreement on the size of the fine, yet "a standout amongst the most hostile propensities all through the negotiations has been how much Mark Zuckerberg, Facebook's CEO, should be held personally responsible for any infringement of the agreement".

In the United Kingdom, the government's Digital, Culture, Media and Sport (DCMS) committee recently recommended that social media firms should be overseen by their own independent regulator.

In a letter to the FTC, Senators Richard Blumenthal, a Democrat, and Josh Hawley, a Republican, told the agency that even a $5 billion civil penalty is a "bargain for Facebook". The fine against Facebook is expected to run as high as $5 billion - stacked against the company's revenue of $55.8 billion a year ago.

In a letter to the FTC, Senators Richard Blumenthal, a Democrat, and Josh Hawley, a Republican, told the agency that a possible fine of Dollars 5 billion is a "bargain for Facebook". The two lawmakers have fired off a letter to the FTC urging the agency's director to "act swiftly to conclude the investigation of Facebook and to move to compel sweeping changes to end the social network's pattern of misuse and abuse of personal data".

Little Girl Gifts Prince Harry Toy in Honor for Archie
The onesie was presented to him on stage by Princess Margriet of the Netherlands, and the duke held it up to his chest with glee. After all, he created the multi-sport event for wounded, injured, or sick armed service members or veterans to compete together.

Lawmakers have started work on a new national privacy law that could sharply curtail the ability of the biggest tech companies to collect and make money off people's personal data. Consumer privacy advocates and Democratic lawmakers say the agency now lacks teeth and have pushed for expanding its powers and funding. The industry has traditionally been lightly regulated and has resisted closer oversight as a threat to its culture of free-wheeling innovation.

Facebook shares are up more than 40 percent year-to-date despite the impending FTC fine.

It's not yet clear what kind of authority the FTC-appointed privacy "assessor" would have relative to the rest of Facebook's executives. Violations could subject the company to fines of $41,484 per violation per user per day. That potential settlement would resolve allegations that Facebook violated a 2012 consent decree by allowing Cambridge Analytica to access the data.

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