EPIC on Libra: "Facebook clearly cannot be trusted with consumers' financial data"

During today's House Financial Services hearing, Rep. Nydia Velazquez [D-NY] grilled Mark Zuckerberg about the misrepresentations Facebook made to regulators when it acquired WhatsApp — misrepresentations that led to fines in the EU. "Why should we believe what you and Calibra are saying about protecting customer #privacy and financial data?" said Rep. Velazquez. EPIC raised the same issue in a July statement to the House Financial Services Committee, saying "Facebook clearly cannot be trusted with consumers' financial data" and outlining Facebook's long history of failing to protect user data. EPIC is challenging the proposed settlement between the Federal Trade Commission and Facebook, charging that the Commission has failed to investigate thousands of pending complaints against the company.

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