The Democrats of the House Financial Services Committee have officially written the leadership of Facebook to ask them to stop the Libra cryptocurrency plan and its associated Calibra wallet plans, citing risks to security, financial stability and risks to the control the government of the...
New York Governor Andrew Cuomo has ordered the Department of Financial Services to look into reports that state-regulated advertisers have been using Facebook’s advertising platform to discriminate against select users. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
David Marcus, Facebook vice president of messaging products and a key developer of the social media firm’s Libra digital currency project, thinks someone with experience in government and central banking would be a great leader for the team that would oversee the currency, according to reports....
In the aftermath of Facebook’s unveiling of Libra and its Calibra wallet, among the many questions raised was how it managed to get so many of the “who’s who” in payments at the table. That was the question Karen Webster had for PayPal Chief Operating...
Libra could be just the beginning for Facebook. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you...
Two more financial regulators have warned that they won’t allow Facebook’s planned cryptocurrency, Libra, to launch without looking at it closely. The international Financial Stability Board (FSB) and the U.K.’s Financial Conduct Authority (FCA) have joined the Bank of England (BoE) and the G7 in...
The U.S. Federal Reserve plans to hold Facebook’s cryptocurrency, Libra, to high standards when it comes to consumer protection and regulation. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Facebook is still legally on the hook for a September data breach that affected 30 million of their customers. Hackers were reportedly able to exploit several software failings in order to obtain login access to consumer accounts. Facebook had moved to have the case dismissed...
Facebook’s head of global affairs Nick Clegg dismissed calls for a breakup of the company and said it would be more helpful if the government stepped up its regulation efforts, according to a report by Reuters. Get the Full Story Complete the form to unlock...