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Facebook reaches $5 billion FTC settlement

The inevitable has happened for Facebook. After weeks of reports that the company was working to settle with the Federal Trade Commission (FTC) over its privacy practices, the two parties have finally come to an agreement. The Wall Street Journal reports that commissioners voted to approve a $5 billion settlement — something Facebook had already accounted for — for the social network over its “privacy missteps,” with three Republicans voting to approve the deal and two Democrats opposed.

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