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What the FTC Facebook settlement means for consumers?

The FTC's record-breaking $5 billion settlement requires Facebook to conduct a massive overhaul of its consumer privacy practices. ... The FTC sued Facebook in 2012 for making misleading promises about the extent to which consumers could keep their personal information private.

What does the FTC do for consumers?

The FTC's Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting complaints and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and ...

What is the role of the FTC?

Protecting Consumers The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.

What are four ways the Federal Trade Commission protects consumers?

stops unfair, deceptive and fraudulent business practices by collecting complaints and conducting investigations, suing companies and who breaks the law, Making rules to keep a fair marketplace, educating consumers and businesses about their rights.

Can the FTC sue?

If the FTC and the company can't agree, the FTC can sue the company. Whether the FTC and the company agree on a settle mentor a court of law orders the company to stop the company must be sure it follows what the settlement or court order says. Sometimes the company must pay money as a penalty.

What is the FTC rule?

The Funeral Rule, enforced by the Federal Trade Commission (FTC), makes it possible for you to choose only those goods and services you want or need and to pay only for those you select, whether you are making arrangements when a death occurs or in advance.

Is the FTC investigating Facebook?

Yet the company announced today, as part of its second quarter earnings announcement, that the Federal Trade Commission is now officially investigating Facebook for potential violations of US antitrust law. The online technology industry and our company have received increased regulatory scrutiny in the past quarter.

Is Facebook being investigated?

The investigation is the latest headache for the social network, which was recently hit with a $5 billion fine by the Federal Trade Commission. That agency is reportedly still investigating Facebook for other potential legal violations. ... Facebook did not immediately respond to a request for comment.

Why is the FTC fining Facebook?

In the agreement filed today, the FTC alleges that Facebook violated the law by failing to protect data from third parties, serving ads through the use of phone numbers provided for security, and lying to users that its facial recognition software was turned off by default.

What the FTC does?

Protecting Consumers The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.

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