Facebook CEO faces growing pushback from legislators over plans to develop alternative payment system

Congressman Gregory Meeks of New York questions Facebook’s commitment to the unbanked and underbanked in a heated exchange.

“Facebook is a multi billion, trillion dollar company,” he said. “You say you are concerned about the underbanked unbanked – how much of Facebook money is in minority depository institutions?”


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Congresswoman Nydia Velázquez of New York asks Zuckerberg if he agrees to a full moratorium on Libra pending congressional approval.

“Facebook’s slogan for a long time was ‘move fast, break things.’ Mr Zuckerberg – we do not want to break the International Monetary System,” she said.

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Read More Libra: Mark Zuckerberg testifies before Congress about embattled cryptocurrency – live

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