Without objection the chair is authorized today declare a recess of the committee at any time. This hearing is entitled an examination of facebook and its impact on the Financial Services and housing sectors. I now recognize myself for five minutes to give an Opening Statement. Today, were here to examine the impact of facebook on the Financial Services and housing sectors. Our sole witness is facebooks chairman and ceo, Mark Zuckerberg. Facebooks plans to create a Digital Currency, libra, and a digital wallet raise many concerns relating to privacy, trading risk, discrimination, opportunities for diverse owned financial firms, National Security, Monetary Policy, and the stability of the Global Financial system. I and other democrats have called for a moratorium on facebooks development of this Digital Currency, libra, and digital wallet until congress can examine the issues associated with a Big Tech Company developing these Digital Products and take action. As i have examined faceboo
Discrimination should be able to decide their own election processes at cspan. Org. The Consumer Financial Protection Bureaus Kathleen Kraninger talks about payday lending practices and regulatory rules before the Senate Banking committee. This is an hour and 20 minutes. This meeting will come to orer. Issued its cfpb report which outlines the bureaus work between september 201 an march 2019 including rule makings and supervisor activities. Mr. Crapo 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 americans have access to a wide range of products and services to meet their 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 mopthopes john. The directors conversations with co
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 americans have access to a wide range of products and services to meet their 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 mopthopes john. 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 highlighted that the cfpb has taken steps to strengthen the consumer mark place by providing Financial Institutions clear rules of the road that allow them to offer consumers a range of high quality, Innovative Financial ervices and services and pro
The Fourth Quarter and also this week we will get the first glimpse oncoming quarter on friday with new jobs report, so we talked about this last week and looks like the economy has slowed a little bit and we have to see whether we get confirmation of that with the data that come out in the next few days. The earnings and the guidance obviously as usual will be important but now the democrats are turning the story, so far no reaction from the markets but the markets are now accusing President Trump of soliciting additional foreign assistance, this time from australia to investigate the origins of the Mueller Probe. The story in New York Times, the president public told reporters in may that he asked attorney general william barr to look at variety of countries potentially involved in the 2016 election. House democrats subpoenaing the president s personal attorney for documents and said Senate Majority Mitch Mcconnell would have to take Impeachment Vote if it makes its way to the senate
Got to cut again. Lets dive deeper into the action. . Bigail, what were you watching this we take a look at oneyear chart of the s p 500. All the volatility over the last 12 months. More recently going above it just a little bit. Two the index is having a hard time. Another whipsaw back down into the range. Taylor it was outperforming the Broader Market by more than a percentage point. We have had no trade news today. No news is good news. The index has been so sensitive. Thented to look at some of individual stocks. Here in the terminal chart that i am showing terminal customers, the index in blue and creating a divergence here. Analysts are really wondering where the stocks come down for dram. In the case of micron, credit suisse, could have a bottoming out cycle. Micron gets a lot of revenue from dram memory chips. Renita i am closing it out looking at the u. S. Dollar climbing as global fears intensify. Weaker than expected euro zone manufacturing data started to renew concerns. Th