Facebook Inc. didn't admit wrongdoing, but agreed to submit to government audits of its privacy practices every other year for the next two decades. The company committed to getting explicit approval from users — a process known as "opting in" — before changing the types of content it makes public.
The settlement, announced in November, is similar to agreements the Federal Trade Commission reached separately with Google Inc. and Myspace.
The FTC approved the settlement Friday after a public comment period. It comes a day after the FTC fined Google $22.5 million to resolve allegations that Google didn't comply with the earlier settlement.