Facebook still owes the U.S. government $5 billion.
The definition of eroticizesocial media giant has yet to make good on its debt to the American people following a record fine levied by the Federal Trade Commission in July. While the specifics of the settlement are still being challenged, it's worth asking what happens next with all that money — assuming this all eventually gets worked out.
I mean, it's not like Mark Zuckerberg can just walk one of those giant novelty-sized checks over to the the While House. However, don't think for a second that the exact manner and timing of the payment hasn't been precisely dialed in.
The fine, lest you forget, followed an FTC investigation kicked off by the Cambridge Analytica privacy scandal. The government determined that Facebook violated a 2011 settlement with the FTC that also dealt with issues of consumer privacy — specifically, the issue that Facebook deceived its users in regard to what it did with their data.
Sound familiar?
So yeah, Facebook is kind of a repeat offender here. A repeat offender, it's worth adding, that still hasn't paid up. As the Wall Street Journalreports, the settlement has yet to be finalized over concerns that it's too generous to Facebook.
And yes, you read that correctly. Too generous to Facebook.
Critics of the deal, notes the Journal, insist that it indemnifies Facebook against all kinds of past wrongdoing — including stuff that we may not presently know about. In other words, it gives the corporate behemoth a bit of a get-out-of-jail-free card should past transgressions come to light.
"The proposed release is so vague," wrote Electronic Privacy Information Center president Marc Rotenberg in a court filing picked up by the Journal, "and the scope of immunity Facebook would gain is so indeterminately broad, that the Court should reject it as procedurally unfair."
Facebook and the government have until Jan. 24 to respond to this accusation. But should the presiding judge OK the settlement, then Facebook will have to move fast. It won't have much time to transfer that $5 billion.
In fact, according to the initial court order, Facebook will only have seven days to pay the fine.
"Defendant is ordered to pay to Plaintiff, by making payment to the Treasurer of the United States, FIVE BILLION dollars ($5,000,000,000.00), which, as Defendant stipulates, its undersigned counsel holds in escrow for no purpose other than payment to Plaintiff," reads the order. "Such payment must be made within 7 days of entry of this Stipulated Order by electronic fund transfer in accordance with instructions specified by a representative of Plaintiff."
And if Facebook slow walks handing over the cash? Say hello to some serious interest payments.
"In the event of any default in payment," continues the order, "the entire unpaid amount, together with interest, as computed pursuant to 28 U.S.C. § 1961 from the date of default to the date of payment, shall immediately become due and payable."
That the U.S. Treasury will be on the receiving end of this settlement is par for the course. According to FTC spokesperson Juliana Gruenwald Henderson, "[all] civil penalties paid to the FTC including this one go to the U.S. Treasury."
SEE ALSO: Glowing Facebook story pulled from Teen Vogue following serious WTFs
Henderson unfortunately did not answer our question as to whether this money would go into a general fund, or be earmarked for anything specific. But hey, maybe that's putting the cart before the horse — Facebook, after all, needs to pay the damn thing first.
Topics Facebook Social Media
Previous：Hidden Siri Commands and Unusual Responses
Next：Keeping Hope Alive
Amazon requires sellers to use more efficient packaging, or pay up
6 videos about racial justice to watch during the 'Scholar Strike'
Ads that portray the stereotype of men being bad at housework will be banned
10 years later, (a tiny bit of) 'Degrassi' money is still rolling in for Drake
Pairing CPUs and GPUs: PC Upgrades and Bottlenecking
Very good dog jumps into water and rescues baby deer from drowning
Trump's 'Made in America' week is already failing and it's not even Tuesday
Pete Souza doc 'The Way I See It' skates by on Obama nostalgia
Dyson V8 Plus cordless vacuum: $120 off at Amazon
'Contagion' hits different 6 months into the pandemic
'Mario Kart World' Nintendo Direct: 3 takeaways
Paul Ryan tried to be #relatable on emoji day and it did not go well at all
Archie, the very first search engine, was released 30 years ago today
The $80,000 Lucid Air: It'll be nice when we can drive it
The strangeness of Japan's decision to start openly hunting whales
How much screen time is too much? What's the best educational app?
Pornhub wants to teach old people how to have safe sex
Very good dog jumps into water and rescues baby deer from drowning
NYT Connections Sports Edition hints and answers for May 19: Tips to solve Connections #238
Colossal Western fires look ever more menacing, viewed from space
How Trump changed America while distracting us on TwitterTwitter pauses verification requests after verifying a white supremacistChevy pushes out Tesla for 'best EV' in U.S. News awardsI'm a congressman who supports Trump's tax plan, look at this puppy!Trump has made it impossible to date without talking about politicsPolitician who made fun of Women's March loses mightily to womanVenmo now lets users buy and sell Bitcoin and EthereumIs April the giraffe pregnant again?Google Chrome now lets you link people to highlighted text on a websiteI'm a congressman who supports Trump's tax plan, look at this puppy!Sony is giving away 'Horizon Zero Dawn' for free on PS4 and PS5How Trump changed America while distracting us on Twitter5 fantastic free coloring appsEllen Page says she was harassed by Brett Ratner and other Hollywood menNASA plans rescheduled Mars Ingenuity helicopter flight for April 19NASA's helicopter on Mars performs first powered aircraft flight on another planetIs April the giraffe pregnant again?Apple TV no longer comes with the worst remote of all timeMeet Quimera, the twoPowerful videos show 'Dreamers' storming Senate office building NYT Connections Sports Edition hints and answers for October 28: Tips to solve Connections #35. Apple Intelligence release date: When will you get Genmoji and more? Best gaming TV deal: Save $400 on Sony Bravia 7 Best beauty deal: The Dyson Supersonic is on sale for under $330 NYT mini crossword answers for October 29 M4 MacBook Pro: All the rumors and leaks about the next Best security deal: Video doorbells are up to 38% off at Amazon Philadelphia DA sues Musk, calls his $1 million voter payouts 'illegal lottery' 'Only Murders in the Building' Season 4 ending explained: Who killed Sazz and why? Arkadium mini crossword answers for October 30 M4 Max briefly leaked on Apple’s website — what it tells us about the MacBook Pro 'Madden NFL 25' deal: Get $30 off at Amazon iOS 18.1 features: Apple Intelligence is finally here Get NordVPN subscriptions for 74% off ahead of Black Friday NASA reveals new moon landing sites. They're dark and uncharted. ASUS ZenScreen portable monitor deal: $119 at Amazon Best Amazon TV deal: Save $30 on the Amazon Fire TV 40 Apple ‘updated’ the Magic Mouse — and the internet is clowning the notoriously bad port placement Watch Saoirse Ronan stun male actors into silence on 'The Graham Norton Show' Best Beats deal: $39.95 off Beats Studio Buds+
0.9604s , 8286.234375 kb
Copyright © 2025 Powered by 【definition of eroticize】,Exquisite Information Network