Reports indicate that the Federal Trade Commission recently voted 3-2 along party lines to approve a roughly $5 billion settlement with Facebook over the company’s repeated privacy violations, including the Cambridge Analytica incident. The FTC is expected to unveil the terms of the fine -- including possible conditions -- once the Department of Justice has finalized the settlement.
Today, Senate Finance Committee Chairman Chuck Grassley (R-IA) and Senate Antitrust Subcommittee Ranking Member Amy Klobuchar (D-MN), introduced the Merger Filing Fee Modernization Act. The Act would increase merger filing fees for large mergers reviewed by the Department of Justice Antitrust Division and the Federal Trade Commission, and use the additional funding to increase budgets for the two enforcers.
Facebook announced yesterday that it expects to pay a fine up to $5 billion dollars over accusations that the company violated its 2011 consent decree with the Federal Trade Commission over consumer privacy on the social media platform. The company also said there can be no assurances as to the terms of resolution of the investigation.
Back in November, Public Knowledge and Open Markets Institute argued to the International Trade Commission that it would violate the public interest to grant Qualcomm’s request to ban iPhones that used Intel baseband technology from the U.S. market. We wrote then,