House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.
Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.
The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.
Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit.
Sens. Mike Crapo and Sherrod Brown are asking Facebook about its consumer financial data collection practices as they consider data privacy legislation.
A discussion on how to modernize policies to combat housing discrimination quickly turned into a sharp critique of the social media giant's advertising practices.
Randal Quarles, a senior Fed official and chair of the Financial Stability Board, sparked debate with a speech about the risks and rewards of companies like Amazon, Facebook and Apple entering the financial system.
