PYMNTS

JULY 23, 2019

The Washington Post is reporting that as part of a milestone settlement against Facebook, the Federal Trade Commission (FTC) is going to say that Facebook lied to users about handling phone numbers and that it misled users about turning off a photo recognition tool. The new board committee will be added to the existing team.

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PYMNTS

JULY 24, 2019

The FTC voted 3-2 in favor of a settlement with Facebook, and the case went to the Justice Department’s civil division to be reviewed. In 2011, Facebook and the FTC reached a consent decree in regards to protecting user privacy. The new case was over whether the social media firm violated that decree not. .

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PYMNTS

APRIL 24, 2019

The anticipated and one-time fine that Facebook will pay to the FTC stems from the agency’s investigation into Facebook’s privacy practices. The federal agency has accused the social media platform of violating a privacy consent decree from 2011. So far, the largest fine the agency has imposed on a tech company was the $22.5

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PYMNTS

OCTOBER 18, 2019

Facebook started the facial recognition technology in 2011, when it would ask users to identify if people tagged in photos were friends they knew. The last large settlement paid by Facebook was a $5 billion fine to the Federal Trade Commission (FTC) for violating a consent decree. Facebook’s revenue last year was $55 billion.

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PYMNTS

MARCH 13, 2017

According to FTC data (from a report mandated by Congress), one in five consumers have at least one error on one of their three major credit reports. According to the CFPB, the three credit bureaus received around eight million requests disputing information since 2011.

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PYMNTS

APRIL 30, 2018

with supporting use cases mostly related to financial services and cross-border settlement, for a grand total of $242 million in 2018. In 2011, Buffett made a $10 billion investment in the company in support of then-new CEO Ginni Rometty’s turnaround plans. billion by 2021. Most of that spend will be concentrated in the U.S.,

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PYMNTS

MAY 5, 2019

With Facebook and the Federal Trade Commission in the final stages of settlement talks, disagreements between the five-member FTC panel are complicating the discussions. Facebook is in talks with the FTC to settle a lawsuit stemming from its scandal with Cambridge Analytica.

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