Sent to you by Chris Hunter via Google Reader:
Facebook started rolling out a big change in the way it handles privacy today. Now, your settings are just a click are two away, and are easier to understand than ever, ensuring you have complete control over who sees your stuff.
The new settings are a nice change, offering two main features. Privacy Shortcuts offer you a simple way, from the Facebook toolbar, to change your settings using a few simple-English options like "Who Can See My Stuff?" or "Who Can Contact Me?" Facebook's also updated the Activity Log, making it easier for you to request the removal of new photos someone tags you in. You can just check the boxes next to all the photos you don't like and untag them with one click, or even send a message to your friend asking them to take the photos down.
Facebook's simplified app permissions this time around too, as well as more information throughout the site on how each feature works, as well as a search bar near your Privacy Shortcuts that let's you search the help menu. The way Timeline works is still a little confusing, but at least they're trying to make it easier to understand how it works.
Hit the link to read more about the settings, and head over to Facebook to see if they've shown up yet for you. If not, check back frequently, as it should be rolling out soon.
Better Controls for Managing Your Content | Facebook Newsroom