Wall Street Journal: Facebook and the Federal Trade Commission (FTC) have reached a settlement agreement relating to charges stemming from December 2009 changes to Facebook's privacy practices. Under the terms of the deal, Facebook has agreed to tell the truth about the privacy of user information, to get user approval before it changes the way it shares personal information and to submit to privacy audits for the next twenty years. "Facebook is obligated to keep the promises about privacy that it makes to its hundreds of millions of users," said FTC Chairman Jon Leibowitz. "Facebook's innovation does not have to come at the expense of consumer privacy. The FTC action will ensure it will not."
The FTC will decide whether or not to finalize the agreement after a 30-day public comment period.