FTC sends privacy warning

With a privacy settlement Fri., the Federal Trade Commission sent a warning to the mobile industry to do better. The agency had charged privately held Path's Social Networking app deceived consumers and improperly collected personal data from mobile address books. As it did with Google (GOOG), Facebook (FB) and MySpace on privacy issues, the FTC told Path to create a privacy program. Path agreed to do privacy assessment every other year for 20 years and pay $800,000. Facebook shares rose 4% to 29.73.