Facebook gets off easy after agreeing to pay $5 billion fine

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Back in April, we told you that in calculating its first quarter earnings report, Facebook took a charge of $3 billion. The company said in its report that it expected to be fined $5 billion by the Federal Trade Commission (FTC). Today, Reuters reports that the FTC has indeed approved a $5 billion settlement with Facebook for violating a consent decree it signed with the regulatory agency back in 2011. Under the terms of the consent decree, the social-media network could not use member profiles without their express consent.
But it was discovered last year that tens …

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