[inaudible conversations] the hearing will come to order. Today we will receive testimony from david marcus head of libra at facebook. On may 9 senator brown and i sent a letter shortly after it was reported that company was recruiting Financial Institutions and online merchants to launch a cryptocurrency based Payment System using a social network. We asked space bar for more information how the system would work, access and use of Consumer Financial information and facebooks access to use of information on individuals or group of individuals for credit or insurance or housing i appreciate facebooks response last week. Shortly after the letter was sent facebook formally announced its intention to launch the Payment System libra and issued a white paper providing information on the project. Since then us and Global Regulators have taken notice including the Federal Reserve, reserve, Uk Financial Conduct Authority and a stability board, g7 and others for the last week during the Federal
[gavel] this meeting will come to order. Will come to order. Today we will receive testimony from david marcus head of libra at facebook. On may 9 senator brown and i sent a letter shortly after it was reported that company was recruiting Financial Institutions and online merchants to launch a cryptocurrency based Payment System using a social network. We asked space bar for more information how the system would work, access and use of Consumer Financial information and facebooks access to use of information on individuals or group of individuals for credit or insurance or housing i appreciate facebooks response last week. Shortly after the letter was sent facebook formally announced its intention to launch the Payment System libra and issued a white paper providing information on the project. Since then us and Global Regulators have taken notice including the Federal Reserve, reserve, Uk Financial Conduct Authority and a stability board, g7 and others for the last week during the Fede
Discussion on slave refugee camps during the war. Watch American History tv tonight at 8 00 p. M. Eastern on cspan 3. This past june, facebook announced plans for its own crypto currency called libra. The cocreator of Libra David Marcus answered lawmakers concerned over the Digital Currency before the Senate Banking committee. This is about 2 1 2 hours. This hearing will come to order. Today we will receive testimony from david marcus, head of libra at facebook. On may 9, senator brown and i sent a letter to facebook shortly after it was reported that the company was recruiting Financial Institutions and online merchants to help launch a cryptocurrency based Payment System using its social network. Our letter asked facebook for more information about how the system would work. Its access to and use of Consumer Financial information, and facebooks access to and use of information on individuals or groups of individuals in credit, insure, employment or housing. I appreciate facebooks res
Banks mixed. Carmax, the worst performer. 2. 13 , crude up to oil below 65 a barrel. Trucking index, s p, best performer today, more than 8 up. That is relieving investors. European markets now. A better day in europe. The dax up a quarter of 1 , cac upup 6 10 of 1 , ftse 100 for tenths of 1 4 10 of 1 . Questions about barbary moving over. First quarter doing well in china. That stock is up 13 . Thank earnings season, j. P. Banks, wells fargo, reported earnings this morning. Lets bring in our Investment Banking reporter. It seems pressure on margins not affecting banks much. Reporter it is affecting them in that wells fargo revised projections downward and the lowest net income in three years. Theres will come down contingent on how many rate hikes there are. Jamie dimon is saying it is like wind blowing. Investors are following the news well. Vonnie what are we seeing in terms of indications for u. S. Consumer . Reporter so far so good. Jp morgans long growth swelling, close to 7 last
Intersection of highway 4 and interstate 680. Pacheco and contra costa county. The four and 680 has been shut down. Because of course you have a lot of fire crews that are there on the ground trying to battle this fire and get it under control. We were speaking with our meteorologist mark tamayo and he says the winds have picked up in this area. Right now gusting at 26 Miles Per Hour. But as you can see here the damage already done at this Storage Facility with several of these units burned, crews remain on the scene of this fire trying to put out hot spots and make sure the fire doesnt continue to spread. Of c o n tinues to spread. Obviously this is affecting traffic in the area. And were still working to get the name of the Storage Facility. Welcome everyone to the 4. Im alex sadvidge. And im heather holmes. The uscg says the smallest of the two earth earthquake was a 3. 5. People here felt the earthquake so did people in stockton and San Francisco. A second quake was a 3. 5. The Cen