Meta fined $1.3 billion for violating E.U. data privacy policies

Yahoo Finance's Julie Hyman breaks down Meta's $1.3 billion fine from the Irish Data Protection Commission for violating E.U. data privacy policies.

Video transcript

- We're also watching another story here, Facebook's parent company Meta receiving a record breaking fine. After failing to comply with the European Union's privacy policies, the tech giant was slapped with a $1.3 billion fine on Monday, that ruling coming from the Irish Data Protection Commission after Meta violated customer privacy rules by transferring personal data that belonged to Facebook's EU users to servers in the US. The shares were trading slightly lower here this morning, off by just a half of 1%. We're going to talk much more about this in just a bit.