US lawmakers hammer Facebook exec over Libra's threat to privacy

House members challenge company over its plans to protect data and question its goals in latest clash on Capitol Hill

Facebook once again faced intense questioning from US lawmakers over the future launch of its cryptocurrency project Libra, in a combative hearing that highlighted deep skepticism over the tech firm's possibly entering the banking world following a slew of privacy scandals.

Members of the US House financial services committee grilled the Facebook executive David Marcus for more than five hours on Wednesday, asking him how the company plans to protect user data, challenging its purported goals of bringing banking services to underserved populations, and demanding more accountability to regulatory bodies.