David Marcus, who oversees Facebook’s digital wallet, plans to tell Congress that the company will roll out Libra only after it has "received appropriate approvals.”
For the second straight day, concerns about Facebook's cryptocurrency project dominated lawmakers’ questioning of Federal Reserve Chairman Jerome Powell.
The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”
Dallas Fed chief says lower interest rates may require stricter rules to ward off riskier lending; after financial crisis, debt backed by HELOCs disappeared.
While a bill to require firms to identify their owners has gained bipartisan support, some small companies argue it is burdensome and would subject them to harsh penalties.
Deutsche Bank is being investigated by U.S. federal authorities for potential lapses in money laundering compliance, The New York Times reported, citing unidentified people with knowledge of the inquiry.
Banks shouldn’t have trouble this year, but the rules may change next year; U.S. authorities are probing possible AML compliance violations at the German bank.
