Social media companies collect, share and process vast troves of information about their users while offering little transparency or control, the U.S. Federal Trade Commission said.

FTC Chair Lina Khan says tech giants such as Meta and Google "endanger people's privacy" and "expose them to a host of harms."

The Federal Trade Commission released a report Thursday slamming social media platforms including Facebook's parent company, Meta, as well as TikTok, Google-owned YouTube, Snap and other online services over privacy and youth safety concerns.