, 16 tweets, 20 min read
Today, the House Financial Services Committee is holding a hearing with Facebook CEO Mark Zuckerberg.

You can watch yourself at: financialservices.house.gov/calendar/event…

We will be clipping videos from the hearing in this thread. 👇👇👇
HUD "filed an official charge of discrimination against @Facebook for its advertising practices... I understand that Facebook has refused to comply with HUD's fair housing investigation" --@RepMaxineWaters #FacebookHearing
@facebook @RepMaxineWaters “Last year, Facebook banned all cryptocurrency ads on its platform” saying it was misleading and deceptive. “Then earlier this year, Facebook rolled back the ban, and bought a blockchain company, and launched your own currency.” —@RepMaxineWaters #ZuckBuck #BigTechTakeover
@facebook @RepMaxineWaters "Why should we believe what you're saying about protecting customer privacy & financial data?" -@NydiaVelazquez

Zuckerberg claims to be building a "privacy program...parallel to what Sarbanes Oxley would be for public companies" w quarterly certifications "all the way up to me"
@facebook @RepMaxineWaters @NydiaVelazquez @RepGregoryMeeks compares predatory payday lenders, who *claim* to want to help but really hurt consumers, to what Zuckerberg is claiming to do w #Libra.

Also takes him to task for not investing and of Facebook’s $ in Minority Depository Institutions

#ZuckBuck #BigTechTakeover
@facebook @RepMaxineWaters @NydiaVelazquez @RepGregoryMeeks .@RepAnnWagner: “When #Libra was announced 28 companies joined as founding members. In recent weeks, many of these members have dropped out. @Paypal, @Visa, @Mastercard, @Stripe@eBay…you’ve lost these stable partners”

Zuckerberg: ¯\_(ツ)_/¯
@LacyClayMO1 @BradSherman @facebook @LacyClayMO1 asks if Zuckerberg will compy with subpoenas about their algorithm and how housing companies might have discriminated via Facebook
@LacyClayMO1 @BradSherman @facebook .@RepBeatty quizzed Zuckerberg, “Do you know the firm that you employ for civil rights is?”— he didn’t.

She asked him questioned detailed in a civil rights report sent to him — he didn’t know.

“Maybe you just don’t read a lot of things about civil rights”
@LacyClayMO1 @BradSherman @facebook @RepBeatty @RepKatiePorter asks Zuckerberg if he's committed to his privacy policy. He says yes.

“Then why are you arguing in court in a consumer data privacy lawsuit, that plaintiffs failed to demonstrate any harm? Will you commit to withdrawing this pleading?"

He won't #LibraInDC
And here is the second part of @RepKatiePorter’s questions to Zuckerberg, on:
- how many lobbyists they employ (he didn’t know, it’s 60)
- if he’ll do the excruciating content moderation work he pays $15/hour to contractors to do (he won’t) #LibraInDC
@LacyClayMO1 @BradSherman @facebook @RepBeatty @RepKatiePorter @RepCasten asks Zuckerberg:
- If there were notes taken in his meeting with Trump [NO]
- If the antitrust investigation came up ["I don't think so, but the meeting was private" & he doesn't want to discuss]
- If exemption of politicians from misinformation standards come up [No]
Zuckerberg wants to “help” the underbanked, but claims not to be trying to create a bank. Thank you, @RepChuyGarcia, for pressing him on regulatory oversight: #LibraInDC
@LacyClayMO1 @BradSherman @facebook @RepBeatty @RepKatiePorter @RepCasten AFR works each day to fight for a safer and fairer economy. If you would like to support our work, you can do so here: secure.actblue.com/donate/afr
Missing some Tweet in this thread? You can try to force a refresh.

Enjoying this thread?

Keep Current with AFR

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!