US regulators under scrutiny as they look to punish Facebook

Federal privacy regulators are under scrutiny in Congress as they negotiate a record fine with Facebook to punish the company for alleged violations of its users' privacy.

Beyond a fine, which is expected to run as much as $5 billion, comprehensive action by the FTC could mark a watershed in government action against the tech industry to protect consumer privacy.

FTC Chairman Joseph Simons and his four fellow commission members will appear before a House committee at a hearing Wednesday.