Federal watchdog targets Meta's financial data handling in ad business
Meta faces potential legal consequences from consumer protection agency over its ad practices. The social-media company might have mishandled third-party financial information in its advertising system
Meta got into hot-water with consumer protection regulators about its money-making ad system (which brings most of companys income). The tech-giant disclosed in Oct 31st filing that they might face legal trouble
In a just-released document Meta said it got notice from Consumer Financial Protection Bureau last month; the agency looks into how facebook-parent company handles outside financial info in its ads. The investigation focuses on money-related products advertising: which raises questions about data-usage practices
The social-media giant – which runs both Facebook and Instagram platforms – didnt give many details but confirmed theyre working with regulators on this matter. This new development shows growing oversight of big-tech companies ways to use personal data in digital advertising business
