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Facebook Settles for $5 Billion Over Handling of User Data

VOANews

   Facebook has agreed to a $5 billion settlement over allegations that
   the social media company mishandled user's personal data.

   The settlement, announced in a statement Wednesday by the Federal Trade
   Commission, is the largest reached with a tech company over user
   privacy.

   As a result of the agreement with the government, Facebook CEO Mark
   Zuckerberg will have to certify, quarterly and annually, that Facebook
   is taking adequate steps to protect user data.

   The settlement will also establish a Facebook privacy committee out of
   its board of directors that would make decisions surrounding privacy
   and data usage. Regulators sought to offset what it called Zuckerberg's
   "unfettered control" to set privacy policies for the company.

   The privacy committee would be responsible for approving compliance
   officers who would work alongside Zuckerberg in ensuring that the
   social media giant is within regulations and submitting certifications.
   

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