Please ensure Javascript is enabled for purposes of website accessibility

Facebook to Report on Its Privacy Efforts to the FTC

By Donna Fuscaldo – Jun 18, 2020 at 9:25AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The social media giant will also hire an outside party to assess its privacy practices.

Facebook (META -2.88%) is vowing to be more transparent about its privacy policies, announcing it will share its practices with a new board of directors committee and with the Federal Trade Commission. 

In a blog post, the tech company said it plans to place more emphasis on privacy as a company, and will hire a third-party independent assessor to review its privacy practices and report their findings to both the FTC and the board's newly created Privacy Committee of. 

A keyboard with the word privacy written in blue on one of the keys.


"Protecting people's privacy is the central focus of my team, and we're making sure everyone at Facebook knows that privacy is their responsibility, too," wrote Chief Privacy Officer Matt Protti. He noted that Facebook is also creating a webpage where it will share updates about its privacy efforts, and said that all employees are now required to complete privacy training courses each year.

It's no secret that Facebook has a questionable record when it comes to protecting users' data. In July, it was fined $5 billion by the FTC over the Cambridge Analytica scandal in which that now-defunct political consulting company accessed the private information of more than 87 million Facebook users without their consent. As part of its settlement with the FTC, Facebook said it would create a Privacy Committee that would be tasked with ensuring its compliance with the government agency's regulations. It was the largest fine ever levied on a company for violating privacy rules. 

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Donna Fuscaldo has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Meta Platforms, Inc. Stock Quote
Meta Platforms, Inc.
$136.37 (-2.88%) $-4.04

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.