The FTC reportedly considered fining Facebook 'tens of billions of dollars'


Facebook reportedly dodged a Federal Trade Commission fine several times larger than the one it's ultimately expected to receive.
Regulators, according to a Monday report in The Washington Post, "stopped short of some even tougher punishments it initially had in mind" for Facebook as part of the FTC investigation into the company's data practices, including a potential fine of "tens of billions of dollars." But Facebook thought it should have to pay less than $1 billion and "felt it could easily prevail in court" over the FTC, the report says.
Ultimately, the FTC reportedly settled with a $5 billion fine. The settlement is expected to be officially finalized and announced in the coming days, The Wall Street Journal reports.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The FTC also considered punishments as part of its settlement that would have held CEO Mark Zuckerberg personally liable for the company's privacy scandals, the Post reports, with this, too, being scrapped as Facebook resisted. The Post cites some sources as now expressing "concern that Facebook may not have had to admit guilt" in the settlement.
Criticism had already emerged last week after reports about the Facebook settlement, with a bipartisan group of senators blasting it as "egregiously inadequate," Engadget reports, also warning that it is "sending the wrong message to tech companies." Read the full report at The Washington Post.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Brian Wilson: the troubled genius who powered the Beach Boys
Feature The musical giant passed away at 82
-
'HBCUs have always had to think more strategically'
Instant Opinion Opinion, comment and editorials of the day
-
Media: Warner Bros. kicks cable to the curb
Feature Warner Bros. Discovery is splitting into two companies as the cable industry continues to decline
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores