The record penalty would resolve the agency’s long-running probe into the social media giant’s privacy issues, according to multiple reports. The settlement had not yet been confirmed as of press time.
In a letter to the FTC, Sens. Richard Blumenthal (D-Conn.), Josh Hawley (R-Mo.) and Ed Markey (D-Ma.) aired concerns that the fine would be “woefully inadequate” after reports that the personal data of 87 million Facebook users improperly wound up in the hands of data firm Cambridge Analytica.