Policy Backgrounders
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Geopolitics Hub

Policy Backgrounders

CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.

EU-US Data Privacy Issues and Meta Fine

June 02, 2023

The Irish Data Protection Authority, acting under authority of the European Union’s Data Protection Board, fined Meta’s Irish company (a holding company for Facebook, Instagram, and WhatsApp) a record €1.2 billion ($1.3 billion), the largest fine under the five-year old General Data Protection Regulation (GDPR) data privacy law.

  • The fine was imposed because of Facebook’s data processing practices; the EU believes that transfers of personal data of European users to US servers violate European law as the US does not offer “essentially equivalent” protection for US personal data to the EU’s GDPR framework.
  • Meta cites a “fundamental conflict in law” between the EU and US.
  • Data transfer issues between the US and EU could be resolved with a new Trans-Atlantic Data Privacy Framework, an agreement currently being negotiated that could go into effect this summer.

Download Committee for Economic Development

Authors

Dr. Lori Esposito Murray

Dr. Lori Esposito Murray

Former President

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Mitchell Barnes

Mitchell Barnes

Senior Economic Policy Analyst

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BRIEF

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IN THE NEWS

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