Facebook is currently negotiating with the Federal Trade Commission (FTC) to determine a settlement for its privacy missteps during the Cambridge Analytica data breach scandal. According to Forbes, the social media giant has already set aside $3 billion to pay the fine, though that figure could climb as high as $5 billion. But while that sounds like a huge number, it doesn’t go nearly far enough for two prominent U.S. senators.
This week, senators Richard Blumenthal and Josh Hawley sent a letter to the FTC decrying the expected settlement as a “bargain.” They also called on the agency to strictly limit Facebook’s collection of users’ data while potentially introducing penalties for Facebook executives like Mark Zuckerberg.
“The Facebook investigation will be a defining moment for the Commission,” Blumenthal and Hawley wrote. “It must be seen as a strong protector of consumer privacy and begin to set out a new era of enforcement, or it will not be taken as a credible enforcer. Action is overdue.”
The lawmakers specifically suggested that Facebook’s tracking data should be deleted, and a “firewall” should be built for private data across all of Facebook’s products. These are good ideas, but even if they’re enforced, it still likely won’t be enough to rein in the company. After all, access to our information is how Facebook makes its money.
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