Politico Morning Tech – Fat Fine for Facebook

Politico Morning Tech - Fat Fine for Facebook

Facebook has stayed mum on the potential settlement, limiting its comments on the matter to the multibillion-dollar estimate, disclosed in the company’s latest quarterly earnings report. But e-commerce trade group NetChoice, of which Facebook is a member, said it views a historically large fine as more than sufficient and warned the FTC against taking Facebook to court for more. “A multi-billion dollar settlement is vastly greater than the UK’s $600,000 privacy fine and demonstrates the FTC is a serious enforcer of privacy laws,” said NetChoice general counsel Carl Szabo. “This is not a slam dunk case for the FTC. The FTC knows that if they overplay their hand they will lose in court.”