FTC Settlement with Facebook Highlights Importance of Self-Regulation
WASHINGTON- In response to the FTC settlement with Facebook, ITIF Senior Analyst Daniel Castro issued the following statement:
"The latest action from the FTC highlights the fact the U.S. has a healthy self-regulatory system in place that protects consumers while still allowing for innovation. Most of the concerns presented to the FTC in this inquiry have long since been resolved to the satisfaction of all parties. Moreover, Facebook has developed a consistent track record of responding to privacy concerns by users and regulators and it continues to release new features to give consumers more control over their data. Rather than impose heavy-handed regulations or engage in expensive and unproductive litigation, policymakers should continue to work in partnership with the private sector to balance privacy with innovation."
For more background, see the following ITIF publications: