The FINANCIAL — Facebook Inc is in talks with the US Federal Trade Commission to settle claims that it violated users' privacy when it changed default privacy settings to disclose more information than was previously made public, according to a person familiar with the negotiations.
The proposed 20-year settlement would require Facebook to get express consent from users before sharing material posted under earlier, more restrictive terms, said the person, who declined to be identified because the settlement isn't final.
The FTC is stepping up its enforcement of privacy requirements at internet companies and already has settled complaints with Google and Twitter this year.
Facebook is under pressure to protect individuals' information as it seeks revenue from the more than 800 million users who play games, post photos and communicate using the site.
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