Facebook will pay an unprecedented $5 billion penalty over privacy breaches

Happening now: Federal Trade Commission (FTC) officials hold a news conference to announce that Facebook has agreed to a settlement of allegations it mishandled user privacy and pay a $5 billion fine, the largest civil penalty ever paid to the FTC. As part of the settlement, Facebook Chairman and Chief Executive Officer Mark Zuckerberg will have to certify every three months that the social media company is safeguarding user privacy