Facebook’s Cambridge Analytica Settlement Delayed Due to FTC Split

Facebook’s (FB) multibillion-dollar settlement with the Federal Trade Commission over the Cambridge Analytica scandal has been delayed due to a split between Republicans and Democrats at the regulator, the Wall Street Journal reported on Friday,

Facebook said in April that it was expecting to pay up to $5 billion for the settlement with the FTC over the privacy mishap. Sources said at the time that the settlement would come within days. FTC’s Republican chairman, Joseph Simons, is finding it hard to gain support among the commission’s Democrats.

“A Republican-only decision could expose it to criticism by Democrats and diminish its impact for the enforcement agency, which has sometimes been criticized for being toothless on privacy in the past,” the Wall Street Journal wrote, citing anonymous sources.

Just-released report names Cannabis Stock of the Year for 2019! Their last pick has seen a +1,200% return since he released it!

This stock has all of the makings of the next great cannabis stock – early-mover advantage, international exposure and influential partnerships, plus it has a product that is unlike anything else on the market…

You will also receive a free, weekly newsletter to stay on top of the latest industry trends, read analysis on promising cannabis stocks, and more. Click here to receive your Free Report immediately!

Separately, Facebook’s CEO Mark Zuckerberg and COO Sheryl Sandberg defied a Canadian subpoena, failing to show up in a hearing on Ottawa, CNN reported on Tuesday. Their absence may result in the executives being held in contempt of parliament, the senior Canadian politician who sent the summons told CNN.

Facebook also defended its decision to keep doctored videos of House Speaker Nancy Pelosi on the social network. The videos, which were edited to make Pelosi appear as if she was slurring or intoxicated, went viral toward the end of last week.

In an interview with CNN’s Anderson Cooper on Friday, Facebook’s Head of Global Policy Management Monika Bickert said that the company has not removed Pelosi’s video to give users a “choice.” According to its latest policies against fake news, Facebook will simply downgrade the content’s reach while displaying information from its fact checkers.