Facebook

The company disclosed the potential for legal action 'in the near-term' by the bureau in a recent earnings disclosure.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, is laying the groundwork to potentially declare that Facebook and another Big Tech firms pose risks to consumers.

A few months after cutting ties with its Diem stablecoin project, the company formerly known as Facebook is testing a virtual world marketplace.

The company had accepted a $60 million naming rights deal from Meta Platforms — the social media giant's new brand.

David Marcus, Facebook's financial services chief, discusses how its Novi digital wallet and the Diem stablecoin project it's involved in can be the backbone of a platform that offers real-time digital transactions, acts as a merchant acquirer and helps commercial banks handle central bank digital currencies.

If the new Facebook Pay feels underwhelming compared to the social network's past efforts, that's by design. It's now taking a slower approach that could help overcome the privacy concerns that plagued earlier projects.

The social network now lets people send links and QR codes to request funds through the Messenger app, but users may have little incentive to switch — or to trust Facebook with more of their data.

Development and regulatory costs would be so high that the largest firms would need significantly more scale to justify the investment, according to new research from the Federal Reserve Bank of Richmond.

Using social networks to make purchases and non-credit-card options like buy now, pay later are a permanent part of retail, Dan Brames of FIS writes.

The Facebook-affiliated stablecoin's move from Switzerland brings it to a country where regulators are familiar with crypto and rival currencies have already debuted.