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The new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra.

Facebook's original proposal for Libra was to develop a sweeping, global currency with the backing of the world's biggest companies. Now, with fewer companies on its side and a massive backlash by lawmakers, Facebook is loosening one of Libra's core values.

Kenneth Blanco's tough comments appeared to target payments providers that offer their users anonymity.

The National Credit Union Administration board is expected to tackle a rule on nonmember shares this week while the House Financial Services Committee will examine Facebook's effect on financial services.

The JPMorgan Chase CEO called Facebook's cryptocurrency project a "neat idea" but added his name to the list of industry leaders and policymakers skeptical about the plan.

Readers cast doubts on regulatory attempts to jointly revamp the Community Reinvestment Act, react to Democrats berating the CFPB head, an upcoming House hearing with Facebook's CEO and more.

As some of Facebook's partners pull out of the Libra cyrptocurrency project, Sen. Mike Rounds, R-S.D., encouraged a company located in his state to remain involved.

With policymakers casting doubt on Facebook's cryptocurrency and some of the social media giant's partners pulling out, a Federal Reserve governor continued the drumbeat of criticism.

Facebook’s controversial Libra cryptocurrency project is moving ahead, undaunted by the rapid departure of five high-profile companies. The Libra Association confirmed 21 members have formally signed on and formed the association’s council.

Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts.

The Libra Association's remaining stakeholders — under very public pressure to abandon ship — will potentially find strength in numbers at its meeting in Switzerland.

As regulatory pushback against Facebook's Libra cryptocurrency has accelerated, keeping the project together has become a major challenge, with Visa, Mastercard, Visa, eBay and Stripe joining PayPal in leaving the project.

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.

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.

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.

Any entity questioning Libra runs up against the longstanding legal precedent set by private label gift and GPR, and myriad other prepaid account offerings, says payments consultant and researcher Richard Crone.

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.

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."

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 of the cryptocurrency initiative.

Payoneer found its niche providing technology for Amazon, Google and Facebook to deliver mass payouts to independent contractors, but the company has added options for small U.S. businesses to send payments to vendors and suppliers globally.