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Facebook to set up privacy committee, pay $5 billion fine under FTC settlement

By Amy Miller and Dave Perera ( July 24, 2019, 13:23 GMT | Insight) -- Facebook will pay $5 billion and create an independent board to scrutinize the company’s privacy efforts, as part of a settlement with the US Federal Trade Commission announced today. The deal ends a lengthy probe into whether the social network broke its promises to protect users’ data, with a Republican majority at the FTC voting to approve the settlement, and Democrats dissenting.Facebook will pay a $5 billion fine and create an independent board to scrutinize the company’s privacy efforts in a settlement with the US Federal Trade Commission announced today....

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