FTC Votes to Approve $5 Billion Settlement with Facebook Over Privacy

The Federal Trade Commission voted to approve a roughly $5 billion settlement with Facebook that could end an investigation into its privacy practices, according to a person familiar with the matter but not authorized to speak on the record, a deal poised to result in unprecedented new government oversight of the company. The settlement -- adopted along party lines, with the FTC’s three Republicans supporting it and two Democrats against it -- puts in motion an end to a wide-ranging probe into Facebook’s mishandling of users’ personal information that began more than a year ago.