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Facebook logo. Photo: Jaap Arriens/NurPhoto via Getty Images

Facebook entered into a new agreement with Washington state forcing the social media giant to change its policies nationwide to prevent advertisers of housing, credit, employment, insurance and public accommodations from discriminating based on race, the state's Office of the Attorney General announced.

The details: An investigation by Washington Attorney General Bob Ferguson into Facebook found that advertisers were excluding people by race when using Facebook's a "multicultural affinity" category in its ad targeting tool. This new regulation removes that category from its exclusion tool on all advertisements.

What they're saying: Will Castleberry, vice president of State and Local policy for Facebook, said the company appreciates the attention brought to the matter and are "pleased to have reached an agreement" with Ferguson's office.

“Discriminatory advertising has no place on our platform, and we'll continue to improve our ad products so they're relevant, effective and safe for everyone.”
— Castleberry

Go deeper

Dion Rabouin, author of Markets
9 mins ago - Economy & Business

Clash of the central bankers

Photo Illustration: Eniola Odetunde/Axios. Photos: Bloomberg, Samuel Corum (Stringer)/Getty Images

While Fed chair Jerome Powell is brushing off the seismic rise in government bond yields and a corresponding decline in stock prices, a group of central bankers in the Pacific are starting to take action.

Driving the news: Bank of Japan governor Haruhiko Kuroda told parliament on Friday the BOJ would not allow yields on government debt to continue rising further above the BOJ's 0% target.

Biden expresses support for Amazon workers' union vote in Alabama

Photo: Joe Raedle/Getty Images

President Biden expressed support for a union vote by Amazon warehouse workers in Alabama in a two-minute video posted on Twitter Sunday, though he did not name the tech giant specifically.

Why it matters: A vote by workers at the Bessemer, Ala., warehouse to join the Retail, Wholesale and Department Store Union would make the facility the first Amazon warehouse to unionize in the U.S., per NPR. The election will run through March 29.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Miami mayor: Bitcoin's appeal is that governments can't manipulate it

Miami Mayor Francis Suarez is pushing to make bitcoin a part of his city's economic future, and in an interview with "Axios on HBO," he pushed back against the economic orthodoxy of people like Treasury Secretary Janet Yellen who say it's a bad idea.

Why it matters: Miami's inclusion of bitcoin as a way to pay city employees or as part of the city's emergency cash holdings, as Suarez has proposed, would add legitimacy to the cryptocurrency and further entrench it in the U.S. economic system.