When is the Facebook Settlement Going to Pay Out?
In the wake of the Cambridge Analytica scandal, Facebook settled with the Federal Trade Commission (FTC) for a whopping $5 billion. The settlement was intended to address allegations that Facebook had violated users’ privacy by allowing third-party apps to access their personal data without their consent. But many users are eager to know, when is the Facebook settlement going to pay out?
According to the terms of the settlement, the payout to users will be made in two phases. The first phase will see users who were directly affected by the Cambridge Analytica scandal receive payments of up to $250 each. The second phase will see users who were not directly affected by the scandal, but who had their data shared with Cambridge Analytica, receive payments of up to $5 each. The FTC estimates that around 280 million users are eligible for payments.
When Will the First Phase Payments Be Mailed?
The FTC has not yet announced a specific date for when the first phase payments will be mailed. However, the agency has said that it expects the payments to be sent out in early 2023. Users who are determined to be eligible for a larger payment will receive their final amount when the second phase is paid out.
How Will I Know if I’m Eligible for a Payment?
The FTC will contact eligible users via email or mail. The agency has created an online portal where users can check their eligibility for a payment. Users will be required to provide their Facebook ID and the email address associated with their account. The portal is expected to be launched in early 2023.
What Should I Do if I Don’t Receive a Payment?
If you believe you are eligible for a payment but you do not receive one, you can contact the FTC’s Consumer Response Center at 1-877-382-4357. You can also file a complaint online at the FTC’s website.
Conclusion
The Facebook settlement is a huge win for consumers. The payments will provide some financial compensation for the users whose privacy was violated by Cambridge Analytica. The settlement also sends a strong message to companies that they must protect the privacy of their users.
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