UPDATE 1-U.S. regulators discuss imposing fine against Facebook - Washington Post

Post@ (Adds details from the report, Facebook response)

Jan 18 (Reuters) - U.S. regulators have met to discuss imposing a fine against Facebook Inc for violating a legally binding agreement with the government to protect the privacy of personal data, the Washington Post reported on Friday, citing three people familiar with the discussions.

The Federal Trade Commission has been probing Facebook since last year. It has not finalized its findings in the Facebook investigation or the total amount of the penalty, according to the newspaper https://wapo.st/2FGGRj0.

Facebook has talked with FTC staff about the investigation, one of the people familiar with the probe told the Post.

However, it is unclear if the company would settle with the FTC by accepting a significant financial penalty, which is expected to be much larger than the $22.5 million fine the agency imposed on Google in 2012, the report said.

Facebook declined to comment.

The FTC started conducting an open investigation of Facebook's privacy practices last year following the disclosure that data of millions of users got into the hands of political consultancy Cambridge Analytica. (Reporting by Makini Brice and Sonam Rai in Bengaluru; Editing by Tom Brown and Maju Samuel)