Facebook Antitrust Inquiry Shows Big Tech’s Freewheeling Era Is Past

Facebook came under siege on multiple fronts on Wednesday, agreeing to new layers of oversight and two fines to settle privacy and disclosure violations, even as it acknowledged that it was under investigation from the Federal Trade Commission for antitrust concerns.

Early in the day, the company was penalized by the F.T.C. with a record $5 billion fine for deceiving users about their ability to control the privacy of their personal data. As part of a settlement, the company was also ordered to create a new privacy committee on its board and to make other structural changes to increase the transparency and accountability of its data practices.

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