Banking committee. Senator crapo this meeting will come to order. The cfpb issued its report which outlines the bureaus work between september 2019 and march 2019, including rule makings and supervisor activities. It also provides insight into what the cfpb plans to undertake in the work period. Since stepping into her role last december, director kraninger has demonstrated a commitment to making sure consumers have access to a wide range of products and services to meet their individual needs, fostering innovation and vigorously protecting consumers. Reflecting this commitment to the cfpbs mission, director kraninger conducted a crosscountry listening tour with the full spectrum of stake holders in her first months on the job. The directors conversations with consumers, industry, and fellow federal and state regulators have improved cfpb engagement, informed their supervision an regulatory processes, and improved agency transparency. In a semiannual report, director kraninger also hig
Good morning. The committee will come to order. Thank you for joining us today. Im pleased to welcome federal trade commissioner Joseph Simons and commissioner chopra. Batting. 100 so far . 1000. Its the cupping im thinking of. It has been more than seven years since the ftc has appeared before this Sub Committee. Youre right. Its overdue, and ftc is one of the most important agencies this Sub Committee funds. And its only gotten more important over the last few years. You have enormous jurisdiction. Policing most sectors of our economy for bad behavior. You crack down on abusive robocallers. They investigate data breaches that expose sensitive personal information. They analyze consolidation in the health care market. Helping to limit abusive pricing for essential drugs and health services. Perhaps at the front of mind they are the top cop on the beat for Consumer Privacy violations and other issues in the Technology Sector. This is something everyone worries about these days. Democra
With at least one ftc settlement in its rearview mirror. The Company Posted secondquarter results, shares are up as most of wall street says fundamentals remain strong. Tesla resorts secondquarter results, cutting losses and wall street reacts. We will break down what went wrong and right. Our top story, facebook out with secondquarter earnings, proving the company can grow advertising and users while feeling the heat from regulators worldwide. Hours after facebook announced a settlement with the u. S. Federal trade commission to end a probe into the privacy policies, the beingy confirmed it is investigated by the ftc on antitrust as well. Facebook was alerted to the investigation in june but is just now sharing the news with investors. This as growth in revenue and daily active users Beat Estimates but with its reputation continually under assault, how . David, first of all, what is your take on this new investigation by the ftc . David it doesnt really surprise me. We have multiple p
Entire libre system. I understand you will be distributing runtime executable and things like that so that all of that has to be bulletproof for cybersecurity. I was wondering how you would deal with the governance of that . Mr. Marcus two ways. We agree with you that this is of absolute importance. The way we are dealing with that is the language you are referencing will have formal verification in place to avoid issues. To the extent there are no compiler problems. Mr. Marcus the compiler will not execute the code is the code is not formally verified, and we have a chance of having david dill, who is a professor from stanford in formal verification helping us with this issue. The other thing i want to say is the association will not have guidelines on what thirdparty code will be published or not. At the very early stages, it will be very limited to a set of templates that will avoid the issues you are raising. It will be an ongoing target because if the libra is taken to scale, it w
Plus, facebook marching forward with at least one ftc settlement in its rearview mirror. The Company Posted secondquarter results, shares are up more than 50 this year as most of wall street says fundamentals remain strong. Tesla resorts secondquarter results, the ev maker misses on cutting losses and wall street reacts. We will break down what went wrong and right. Our top story, facebook out with secondquarter earnings, proving the company can grow advertising and users while feeling the heat from regulators worldwide. Hours after facebook announced a settlement with the u. S. Federal trade commission to end a probe into the privacy policies, the company confirmed it is being investigated by the ftc on antitrust as well. Facebook was alerted to the investigation in june but is just now sharing the news with investors. This as growth in revenue and daily active users Beat Estimates but with its reputation continually under assault, how . To discuss, we are joined by the marketers. Dav