Facebook appears to be nearing a settlement with federal regulators that would require approval before making profile changes that expose users to a wider audience. Time cites the Wall Street Journal who does not cite names and Facebook and the FTC have no comment.

“Citing people familiar with the situation that it did not name, The Wall Street Journal said Facebook has agreed to make the changes to resolve a nearly 2-year-old investigation by the Federal Trade Commission.
Both Facebook and the FTC declined to comment to The Associated Press.

If the settlement is approved by FTC’s commissioners, it would require Facebook to get explicit consent from its 800 million users before changing its privacy settings, according to the Journal."