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Tuesday, April 10, 2018
Facebook could theoretically owe the FTC $7.1 trillion for recent data scandals
It’s a big week for Facebook. CEO Mark Zuckerberg is set to appear before Congress tomorrow, ready to fess up to his social network’s multitudinous problems. But the company might soon have a bigger adversary: The Federal Trade Commission (FTC), which could put Facebook on the hook for more money than even its redoubtable coffers could supply. Facebook came to a settlement with the FTC in 2011 over a claim that the former had “deceived consumers by telling them they could keep their information on Facebook private, and then repeatedly allowing it to be shared and made public.†Under the…
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