As reported by media (NY Times, NZZ), Facebook and the U.S. Federal Trade Commission (FTC) via a Buses of approx. USD 5 billion. agreed. The agreement is subject to the approval of the Department of Justice (DOJ). Also part of the agreement is apparently tighter oversight of Facebook’s data handling (but not a restriction on data processing).
The FTC is penalizing Facebook because Facebook is collecting data through Cambridge Analytica (CA) had admitted. CA was an English consulting firm that had supported Trump’s election campaign, among other things. In doing so, Facebook had in particular violated an earlier settlement with the DOJ from 2011.
While the busing is record high, it is set against sales of more out of USD 55 billion in 2018 and nearly USD 15 billion in the first quarter of 2019 and cash reserves of more than USD 40 billion. It was therefore seen by many as a judged very low. The Facebook share price rose to an all-time high after the announcement.