On June 18, Facebook released it’s white paper on the new digital currency, Libra. The news led David Marcus, Chief Executive Officer of Calibra, to appear before the House Financial Services committee on July 17 - a day after appearing before the Senate Banking Committee. House Financial Services Committee members questioned whether Facebook would have overwhelming control over the Libra Association’s 27 other members and if they were to be trusted with 2.7 billion users’ financial data, given past privacy violations. Facebook’s trustworthiness has been in question since the 2016 Cambridge Analytica data scandal. Most recently, charges brought in March by the Department of Housing and Development concerning Facebook's alleged violations the Fair Housing Act have not helped the firm gain favor with the public. Last month, Facebook was removed from the S&P ESG 500 index because of privacy concerns and a lack of transparency as to why certain user infor
A blog on ESG, impact investing and socially responsible investing. Online at www.impactinvesting.online.