News Topic: facebook

Two new surveys have found that most consumers would prefer to stash their cash in traditional banks. But there's one group of savers who would be very comfortable opening accounts with tech giants if given the opportunity. ... Read full article

The social media giant's CEO will likely encounter pushback from members of the Financial Services Committee about the company's plans to launch its own cryptocurrency. ... Read full article

The payments company’s departure from the association leading Facebook’s Libra cryptocurrency plan is the clearest sign that skeptical policymakers are the plan's biggest obstacle. ... Read full article

The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances. ... Read full article

The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years." ... Read full article

Facebook's Libra cryptocurrency project has lost its first major ally. PayPal — where the head of Facebook's Libra project once served as president — has cut its ties. As a founding member, PayPal was expected to drive the payment-specific part ... Read full article

A federal judge blocked state regulators from suing the agency over its new charter, but it’s still unclear whether fintechs would even apply. ... Read full article

Facebook plans to double its headcount in New York City, an expansion that could set up the social media giant for a clash with some of the biggest firms in finance. ... Read full article

House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency. ... Read full article

Crypto technology will play a major role in the central bank's real-time payments system. ... Read full article

From housing finance to Facebook’s crypto plans, moderators questioning the presidential candidates in Texas next month would have no shortage of financial policy topics from which to pick. ... Read full article

There are subtle differences in Walmart's virtual currency project compared to Facebook's Libra, but these may be enough to avoid the regulatory firing squad that Facebook has endured. ... Read full article

The panel has had 13 public meetings since the Massachusetts senator’s last appearance, in May. ... Read full article

The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement. ... Read full article

Two weeks after lawmakers grilled a Facebook exec over Libra, they acknowledged benefits from digital currency technology while warning of the risks. ... Read full article

The former state banking superintendent weighs in on some of the toughest questions bank regulators are grappling with and the lawsuit (still ongoing) that she filed against the OCC. ... Read full article

The social media giant says its cryptocurrency project can bring services to the world's unbanked. Lawmakers and regulators aren’t so sure. ... Read full article

Visa’s decision on how or if it will participate in Facebook’s Libra will be based on how the social network handles the mountain of criticism and requirements that global regulators and lawmakers are heaping upon it. ... Read full article