“The idea here is to give people more accessible information about how Facebook works,” Erin Egan, the company’s chief privacy officer, told The New York Times. “It’s simpler, it’s easier to read.”
The new policy also clearly spells out how Facebook tracks users and gathers their information, and how the site puts it to use. Perhaps foreshadowing Facebook’s apparent interest in entering the realm of online payments, new language was also added that details what information Facebook collects during financial transactions.
Per usual, Facebook’s new language is only a “proposal” for now, and users will have seven days to comment on it before Facebook will make its decision whether or not to implement it. After the changes are made, the new language will roll out on the site in 30 days. If you’d like your voice to be heard, you can share your comments with Facebook here.