May 1, 2018

Parliament threatens summons if Zuckerberg doesn't testify

Photo by Matt McClain/The Washington Post via Getty Images

Parliament has issued an ultimatum to Facebook: make Mark Zuckerberg available to testify voluntarily in front of its Digital Culture Media and Sport Committee or face a summons next time he enters British territory, according to a letter Tuesday from committee chairman Damian Collins.

Why it matters: Facebook is facing heat from regulators in Europe who want Zuckerberg to answer questions about data privacy just as he did in the U.S. Facebook isn't commenting for the record, but a company official noted that its chief technology officer, Mike Schroepfer, already testified for five hours last week and said Facebook plans to answer the other questions the committee still has.

Yes, but: Collins' letter said he "failed to answer on nearly 40 separate points."

The back story: Europe has generally been more strict than the U.S. on data and privacy standards. In May, a sweeping privacy law called the General Data Protection Regulation (GDPR) will go into effect for all businesses with that collect data from European citizens. If Facebook doesn't meet those standards, it could get hit with punitive fines.

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Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.