META IS ORDERED TO PAY $942 MILLION OVER CHILD SAFETY HARMS

Summary from the TLDR Fintech newsletter

A New Mexico judge ordered Meta to pay $942 million after finding the company failed to adequately protect children on Facebook and Instagram, including $567 million for youth treatment and prevention programs on top of $375 million in civil penalties. The ruling also requires new child safety measures such as improved AI-based age estimation, hidden like counts for minors, better reporting tools for schools, and greater transparency around platform risks. Meta plans to appeal, but the decision marks the first trial victory by a US state against a major technology company over child safety and could influence similar lawsuits across the country.