The FABLE framework has five dimensions:
(Social) Fragmentation: The tendency towards social fragmentation within the content’s narrative.
Actionability: The potential of action resulting from the content.
Likelihood of Spread: The likelihood of the content’s spread and exposure.
Exploitativeness: The exploitativeness of the content’s intended audience.
Believability: The believability of the content’s information to the audience.
Note that the truth or falsity of the information is not a dimension. It instead focuses on the social fragmentation of the narrative. How is that a "fact" check? "You keep using that word, I do not think it means what you think it means."
>nd whether a piece of information has the potential to harm someone must, at least in a democratic society, balance with other rights such as the freedom of speech, conscience, and assembly.
My government regularly hinders political speech in extremely bad and unhealthy ways. We have a constitutional right to freedom of speech but then a number of carve outs were created for a 'reasonable democracy' and has effectively eliminated free speech.
You basically cant go around judging speech expect in very very narrow exceptions. Carving out 'misinformation' or 'abusive' or 'hate' exceptions are readily misused to hinder political opponents.
This literally can't be done in practice. The only cure for bad speech is more speech.