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.”
Readers react to the Fed warming up to CRA reforms, criticize the Democratic presidential candidates, defend Pittsburgh as a megabank attraction and more.
The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system.
Lawmakers are taking a closer look at the company’s data collection practices and its work on cryptocurrency payments, raising the possibility of more action down the line.
Sens. Mike Crapo and Sherrod Brown are asking Facebook about its consumer financial data collection practices as they consider data privacy legislation.
The Conference of State Bank Supervisors urged Sens. Mike Crapo and Sherrod Brown to establish a baseline for consumer protection in data privacy and security that would leave room for stricter state rules.
The top Republican and Democrat on the Senate Banking Committee are asking for stakeholders to weigh in on data collection issues as lawmakers consider legislative responses to recent breaches.
