EPIC, Coalition Oppose Facebook Libra Plan

July 3, 2019

EPIC joined a coalition of consumer groups in a letter to Congress calling for an end to Facebook's Libra plan. Facebook, the world's largest social network company, said it planned to enter the global financial services market, likely sidestepping government oversight and democratic accountability. Several groups warned that "a careful assessment will show that the proposal is too dangerous to proceed." The coalition also identified "profound questions" about governance, national sovereignty, law enforcement, consumer protection, privacy, competition and systemic risk. Meanwhile, the Federal Trade Commission has failed to take any action in the fifteen months since the FTC reopened the investigation of Facebook, following the Cambridge Analytica scandal. EPIC brought the original complaint to the FTC in 2009 that led to the 2011 consent order against Facebook. Earlier this year, an EPIC Freedom of Information Act request uncovered more than 26,000 complaints against Facebook pending at the Commission. EPIC has repeatedly urged the FTC to #EnforceTheOrder against Facebook.

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