Facebook is staring down a record-setting $5 billion fine

USATODAY - Tech Top Stories 

Facebook may be close to putting a Federal Trade Commission investigation behind it. But it faces a variety of other probes in Europe and the U.S., some of which could present it with even bigger headaches. While the $5 billion fine from the FTC, which Facebook has been expecting, is by far the largest the agency has levied on a technology company. When Facebook reported its first-quarter earnings back in April, the company confirmed what many had long suspected: The Federal Trade Commission (FTC) was nearing the end of an investigation into the company following last year's Cambridge Analytica scandal. Numerous media reports suggested that the FTC was considering a record-setting fine to make an example of the social media platform.