Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.
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.”
Lawmakers circulated a bill just ahead of hearings on Facebook’s Libra cryptocurrency that would prohibit companies with over $25 billion in annual revenue from launching a digital financial asset.
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.
The speed and the bipartisan nature of the demand for an investigation into Facebook's Libra are telling, giving ammunition to those who warned the cryptocurrency space is underregulated and unsafe
House Financial Services Committee Chairwoman Maxine Waters wants to examine the merger of BB&T and SunTrust, as well as Facebook's cryptocurrency plans.
Google explored the OCC's fintech charter, then walked away; the biggest changes in digital banking could be just ahead; 'Truist' rebrand prompts lawsuit by N.C. credit union; and more from this week's most-read stories.
Readers weigh in on big tech companies walking away from OCC's fintech charter, House committee wanting Facebook to halt Libra, calls to stop Congress from delaying CECL, and more.
Senators will examine the social media giant’s plan to offer a digital currency. House Financial Services Committee leaders have already criticized the idea.
Bills to fix the National Flood Insurance Program and combat the money-laundering risks from shell companies enjoyed bipartisan support during a House Financial Services Committee debate.
