A group of 47 states with the District of Columbia and U.S. territories reached a $18 billion settlement with Facebook and Instagram for steps to put new safety features in place for young users. This settlement, which still needs approval by a federal court, comes as Congress debates competing House and Senate bills that would put new parental control requirements on online platforms and give platforms different levels of responsibility to prevent harms to children and teens.
Sen. Marsha Blackburn, R-Texas, is a no-nonsense advocate for children's rights. She believes that the settlement does not remove the need for legislation that would govern the use of online platforms by children and teens.
The market desk should be aware that the debate over legislation for children's online safety is ongoing and that the settlement is just one step in this process.