(Bloomberg) -- Facebook Inc. Chief Operating Officer Sheryl Sandberg is meeting with Senate committee leaders on Capitol Hill Tuesday as the social-media company nears a record privacy settlement with U.S. regulators that could cost up to $5 billion.

Sandberg met with Republican Senator Roger Wicker from Mississippi, who chairs the Senate Commerce Committee. Wicker said in an interview that they discussed the committee’s effort to draft federal privacy legislation.

The Facebook executive is also set to meet with Republican Senator Jerry Moran of Kansas, said one person familiar with the meetings. Moran is also working on the push for national privacy legislation, which could restrict the collection and use of consumer data by technology companies.

Moran also sits on that committee, which oversees the FTC, that agency that’s nearing an agreement with Facebook for privacy violations that the company says could cost between $3 billion and $5 billion. The agreement, which is still being finalized, would also elevate privacy oversight to Facebook’s board of directors.

The pending FTC settlement has come under fire among lawmakers and privacy advocates. On Monday, Democratic Senator Richard Blumenthal of Connecticut and Republican Senator Josh Hawley of Missouri said that the estimated sum would represent a "bargain." They pushed for long-term limits on Facebook’s collection and use of personal information.

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