The U.S. Federal Trade Commission is expected to announce a roughly $5 billion settlement with Facebook Inc. as early as this week of its investigation into the social media company's handling of user data, two sources briefed on the matter said on Monday.
The FTC, Justice Department and Facebook declined comment. The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. Reuters and other outlets reported July 12 that the FTC had voted to approve the settlement but was awaiting the concurrence of the Justice Department.
The settlement is expected to include government restrictions and oversight on how Facebook treats user privacy. It would mark the largest civil penalty ever paid to the FTC.