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Facebook Defends Data Sharing Tool As FTC Compliant

PYMNTS

The social media site just admitted that the data scandal with Cambridge Analytica could involve more users than the originally estimated 50 million. The company’s CEO, Mark Zuckerberg, is set to testify about Cambridge Analytica’s alleged misuse of the social media platform’s data. Greg Walden (R-OR) and Rep.

Tools 101
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More Security In Wake Of Mall Brawls

PYMNTS

Brawls of mostly young people reportedly broke out around malls in Fayetteville, NC, East Garden City, NY, Elizabeth, NJ, Manchester, CT, Aurora, CO, and Tempe, AZ, among others. I don’t believe it was a coordinated social media flash mob kind of thing.

Security 100
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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

All suffered extraordinary runs on their bank due to large unrealized losses on both HTM and AFS securities, peculiarities in the p/e world, uninsured deposits, crypto, and old school panic via new school technologies and social media. For community banks, it’s not as much about the uninsured deposits or even the AOCI.

FDIC 60
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Fintech Fundings: 15 Companies Raise $125 Million Week Ending May 1

Fintech Labs Insights

Payments via social media. HQ: Chatham, NJ. Tags: Payments, mobile, social, Facebook, Startup Chile (investor). Source: Xconomy. HQ: Santiago, Chile. Latest round:$100,000 Accelerator. Total raised: $140,000. Source: TechCrunch. DriveWealth. Investing platform enabling international investors to trade U.S.

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Bitcoin Daily: US Treasury’s Mnuchin Says ‘Significant’ New Crypto Rules In Works; Spain’s FC Barcelona To Create Team Token

PYMNTS

Chiliz has created a coin called Barca Fan Token due to its partnership with the Spanish sports giant, which can be used on its social media app Socios. BlockFi, based in Jersey City, NJ, will use the money to boost staff and start work on additional projects.

Bitcoin 141
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Banker Quotes: As Told To Me v6

Jeff For Banks

Maybe social media is happening outside of the Marketing Department. NJ Banker and West Pointer Norm Beatty quotes Stonewall Jackson: "Never take counsel of your fear." Do you have a vision about where your FI is going that is clear, and resonates throughout the organization? This banker does. Me: *sigh* Old habits die hard.

NJ 96
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Facebook’s Mark Zuckerberg Will Testify Before Congressional Panel

PYMNTS

Frank Pallone (D-NJ) — the panel’s top Republican and Democrat, respectively — said in a statement. The social media company said it would either be sending Mike Schroepfer, chief technology officer, or Chris Cox, chief product officer, both of which Facebook said would be “well-placed” to answer questions on the matter.

NJ 100