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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.