Meta Fined $1.3 Billion Over Data Transfers to U.S.

Facebook owner Meta Platforms META -0.49%decrease; red down pointing triangle was fined $1.3 billion by European Union regulators for sending user information to the U.S., a record privacy penalty for the bloc.

The ruling raises pressure on the U.S. government to complete a deal that would allow Meta and thousands of multinational companies to keep sending such information stateside.

Tech companies have been especially vulnerable to regulatory scrutiny absent such a deal. But most large international companies rely on a relatively free flow of data across the Atlantic, and the steep fine for Meta highlights the regulatory challenges...