Digital and Web Technology

An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors

Facebook chief executive Mark Zuckerberg will testify before the U.S. House Financial Services Committee on Oct. 23. Zuckerberg will testify at a hearing titled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.”

Allegation on Facebook for helping LIBRA – PayPal, has dropped out Face book Plan

House Financial Services Committee shall inquire the matter

Zuckerberg is likely to face critical questions from  US lawmakers who are scared of Facebook’s efforts to help launch a global cryptocurrency called Libra. Previously federal government charged Facebook in March with violating fair lending laws, alleging that company sold targeted advertising that was racially discriminatory.

Zuckerberg’s meetings with lawmakers focused on the future of internet regulation, which poses a threat to Facebook’s core business. Facebook is under review by investigators at the Federal Trade Commission, a coalition of state attorneys general and the House Judiciary Committee for its competitive practices.

October 10, 2019