SNAP - FCC Chairman withdraws plans to revise social-media liability shield

FCC Chairman Ajit Pai is backing away from a effort to change up regulations of social media - defying a request from President Trump that he revise the companies' liability shield. Pai says he doesn't intend to move forward with a rulemaking to "clarify" Section 230, as directed in Trump's executive order on social media. Pai had said in October that the FCC would act on the rule. He now says that he won't "second-guess" the decisions made by Facebook (FB) and Twitter (TWTR) to block Trump, and he said the president bears some responsibility for Wednesday's Capitol Hill riots. Pai says "given the results of the election, there's simply not sufficient time to complete the administrative steps necessary in order to resolve the rule-making." He does say there's a bipartisan consensus that the law should be changed; a complicated issue that the next administration and Congress will have to

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FCC Chairman withdraws plans to revise social-media liability shield