Two lawmakers urge the FTC to consider harsher penalties against Facebook

Two lawmakers urge the FTC to consider harsher penalties against Facebook

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".

Billionaire Bezos unveils moon lander mockup, embraces Trump's lunar timetable
An illustration of the Blue Moon lander with four rovers on the top deck of the vehicle. Visit Business Insider's homepage for more stories .

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.

Related News:



Most liked

Beluga whale returns iPhone to thankful owner in wild video
Regardless, the whale's mysterious backstory and friendly disposition has made it somewhat of a local celebrity. Obviously tame and unafraid of humans, the beluga was approaching fishing boats, even rubbing up against them.

Ben Watson Plans To Sign With Patriots, Return To New England
He now ranks 19th among active players with 530 receptions, 24th in receiving yards (5,885); and 19th in TD receptions (44). Watson spent his first six seasons with the Patriots before joining the Cleveland Browns for three years.

US Energy Department To Have The World's Fastest Supercomputer In 2021
Beyond hardware, AMD will provide an enhanced version of ROCm, its open-source programming platform for CPUs and GPUs. AMD (NASDAQ: AMD ), a high-performance computing company announced that it is developing the world's fastest computer.

Trump fixer helped Jerry Falwell, Jr cover up scandal involving racy photographs
Falwell reportedly reached out to Cohen in 2015 after someone acquired the pictures and demanded money for them. # p #3_10 # ad skipped = NULL #.

President Donald Trump awards Tiger Woods Presidential Medal of Freedom
In Dubai, Woods designed an 18-hole course - due to open later this year - to be managed by The Trump Organisation. He also praised him as a "devoted philanthropist", noting, "That's how I first met Tiger".

'IT Chapter Two' Trailer: See the Grown-Up Losers' Club
But unease starts to build, and soon Beverly is face-to-face with the same evil that tormented her as a young woman. Finally, the trailer ends with the return of Pennywise's clown form in all its horrifying glory.

Vice president of Venezuela’s opposition-controlled legislature detained in Caracas
The arrest came as President Nicolas Maduro was on live state television at the opening of an agricultural project. Party head Carlos Prosperi said security forces towed Zambrano's auto away while the lawmaker still inside.

Toronto, Philadelphia tied 2-2 heading into game 5
Siakam has been the Raptors' second-leading scorer through the playoffs, averaging 22.9 points per game behind Kawhi Leonard . It was only the second game in playoff history that went to four OTs. "[We've] got to build off it though", Lowry said.

Trump, Moon discuss N.Korea projectile launches
The U.S. military said the drill involved a short-range ballistic missile, which was the first in almost 1.5 year. "It actually makes it more hard for the USA and South Korea to postpone military exercises", she says.

Prince Harry and Meghan to introduce new baby
The British Royal welcomed this first child , a son named Archie Harrison Mountbatten-Windsor, on May 6, with wife Meghan Markle . About the name, Little said: "It may well be it's a name that Meghan is familiar with and again that's why they are using it".

Malcolm Brogdon Set To Return For Bucks In Game 5
Before important games, a Bucks front-office staffer often shoots a text message to a few of the Milwaukee Bucks' players. They have won and covered the spread in the last three games and they are now 7-1 against the spread in these playoffs.

Three-foot-tall cousin of T-rex fills some big evolutionary boots
The fossil dates back 92 million years to the Cretaceous Period, a time when some of the largest dinosaurs ever found lived. The teeny-tiny dinosaur is known as " Suskityrannus hazelae " and is a cousin of the more well-known Tyrannosaurus Rex .

Google Pixel foldable phone may be out
At the 2019 Mobile World Congress in February when the Mate X was announced, it was the fan favorite over Samsung's iteration. The Android Q video above suggests the former but, then again, Google did collaborate with Samsung on the Galaxy Fold.

Archie Harrison Mountbatten-Windsor: Newest royal’s name decoded
According to sources, Meghan and Harry wanted to pick a unique name for their son, different from the rest of the royal names. But the choice of Archie, which is short for Archibald, has surprised royal fans and remains more of a mystery.

Cyclone Fani: Adani Group commits Rs. 25 Crore to Odisha
The prime minister said, he had been constantly monitoring the movement of the cyclone , despite his hectic campaign schedule. Several celebrities have urged people on social media to donate through CM relief fund and help rebuild Odisha.