After more than a year-and-a-half probe, the Federal Trade Commission voted to approve approximately $5 billion in settlement fees with Facebook this week, a source familiar with the case confirmed to the Wall Street Journal.
Why it matters via Axios' David McCabe: A settlement of the long-running investigation would move the global debate over online privacy into a new phase, sparked, in part, by revelations about Facebook's treatment of user data. The $5 billion fine would represent the largest ever of its kind.