The FTC has approved a $5 billion settlement with Facebook

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Facebook CEO Mark Zuckerberg leaving The Merrion Hotel in Dublin after a meeting with politicians to discuss regulation of social media and harmful content. (Photo by Niall Carson/PA Images via Getty Images)

The FTC has approved a roughly $5 billion settlement with Facebook, according to a report from the Wall Street Journal on Friday, citing an anonymous source.

The reported settlement comes following an investigation into the company's privacy myriad issues, and after two years of constant scandals.

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Facebook previously warned investors that it expected to pay out between $3-5 billion.

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