Facebook Pledges $1B For Affordable Housing Ahead Of CEO's Testimony

Facebook announced a $1 billion investment to address California's affordable housing crisis, aiming to create 20,000 new homes for essential workers. This announcement coincides with CEO Mark Zuckerberg's testimony before the House Financial Services Committee regarding Facebook's role in finance and housing. Earlier, Facebook faced allegations of violating the Fair Housing Act with its ad targeting tools. Additionally, Facebook's new cryptocurrency, Libra, is under scrutiny to ensure compliance with financial regulations.

What is the primary goal of Facebook's $1 billion investment in California?

• To invest in renewable energy

• To build new company offices

• To expand its social media platform

• To combat the affordable housing crisis

Why is Facebook's CEO testifying before the House Financial Services Committee?

• To launch a new advertising campaign

• To announce a new partnership with Google

• To address allegations related to the Fair Housing Act

• To discuss a new social media feature

What was Facebook accused of in relation to its targeted ads program?

• Promoting fake news

• Monopolizing the tech industry

• Hacking user accounts

• Violating the Fair Housing Act

What is the main concern of lawmakers regarding Facebook's cryptocurrency, Libra?

• Its compliance with existing financial regulations

• Its potential to replace traditional banks

• Its ability to generate profit for Facebook

• Its environmental impact

Who will have the final decision-making authority over Libra?

• Facebook alone

• The U.S. government

• A not-for-profit group of 21 companies

• The European Union