FTC Proposes New Rules Barring Facebook from ‘Monetizing Youth Data’
The Federal Trade Commission (FTC) on May 3 alleged Facebook failed to comply with a 2020 privacy order and proposed “blanket prohibitions” barring the social media giant from monetizing the data of young users.
Wednesday’s announcement represents the third time the FTC has taken action against Facebook, now called Meta, over privacy issues. The tech company agreed to pay a historic $5 billion fine in 2019 to settle the previous investigation, reaching a settlement with FTC that creates greater accountability at its board of directors level.
FTC is now seeking to modify the 2020 privacy order that would prohibit Meta from profiting from data of users under 18, including those collected through virtual-reality products. That would also expand the limitations on the company’s use of facial recognition technology….