0 days since getting sued... Facebook was taken to court Thursday by the Department of Housing and Urban Development ("HUD"), which has a problem with Facebook's advertising platform. Since ads make just about all of Facebook's money, investors have a problem too.
Advertisers want to put a roof over the head... of certain Facebook users. And that's not ok. Here's what HUD filed with the courts:
- The complaint: Facebook allowed real-estate companies to target their ads to users based on "race, color, national origin, religion, familial status, sex, and disability."
- The law: The Fair Housing Act of 1968 prohibits discrimination in housing based on "protected class." Basically, all those characteristics mentioned above.
The law only goes so far... Anti-discrimination laws apply to housing, employment, and credit/lending products. Anything else is up to Facebook. Will it let advertisers target only us for a Game of Thrones roller disco, excluding grandad? Probably. But where does it draw the line? Get ready for more controversy.
Latest Stories
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.