#NNPA BlackPress
Waters to Facebook: Today’s Hearing is Only the First Step in Our Oversight and Legislative Process
NNPA NEWSWIRE — “Facebook has proposed backing Libra tokens with government currencies and government guaranteed securities, and holding them in a so-called Libra Reserve, to be governed by Facebook and its partners. Ownership of government assets on such a massive scale without proper oversight threatens to concentrate government influence in the hands of a few elites. Ultimately, if Facebook’s plans come to fruition, the company and its partners will wield immense economic power that could destabilize currencies and governments.”
WASHINGTON – Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the following opening statement at a full Committee hearing entitled, “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System.”
As Prepared for Delivery
Today we are here for a hearing on Facebook’s proposed digital currency, Libra, and digital wallet, Calibra, and their impacts on consumers, investors and the financial system. Our first witness is David Marcus, Calibra’s CEO. Following his testimony, a panel of experts will share their views on Facebook’s plans.
I have serious concerns with Facebook’s plans to create a digital currency and digital wallet and its efforts to enlist partners that expand its reach, like Mastercard, Paypal, Visa, Uber, Lyft, and Spotify. Facebook is apparently trying to create a new global financial system that is intended to rival the U.S. dollar. This venture is slated to be based in Switzerland, which has a history as a monetary haven for criminals and shady corporations. Facebook’s plans raise serious privacy, trading, national security, and monetary policy concerns, not only for Facebook’s over 2 billion users, who will have immediate access to these products, but also for consumers, investors and the global economy.
In addition, Facebook has proposed backing Libra tokens with government currencies and government guaranteed securities, and holding them in a so-called Libra Reserve, to be governed by Facebook and its partners. Ownership of government assets on such a massive scale without proper oversight threatens to concentrate government influence in the hands of a few elites. Ultimately, if Facebook’s plans come to fruition, the company and its partners will wield immense economic power that could destabilize currencies and governments.
Facebook’s proposed entry into financial services is all the more troubling because it has already harmed vast numbers of people on a scale similar to Wells Fargo, and demonstrated a pattern of failing to keep consumer data private on a scale similar to Equifax. Facebook remains under a 2011 consent order from the Federal Trade Commission (FTC) for deceiving consumers and failing to keep consumer data private. In the wake of the Cambridge Analytica scandal, in which Facebook provided 50 million users’ private data to a political consulting firm, the company will reportedly pay a record $5 billion fine to the FTC for data privacy failures. In addition, Facebook has allegedly: insecurely stored user passwords dating back to 2012; paid unsuspecting teenagers to download spyware; experienced a hack of nearly 50 million accounts; and experienced a software bug that granted third party access to 6.8 million users’ photos. It has also been sued by HUD and civil rights groups for violations of the Fair Housing Act in what amounts to modern day redlining. Facebook also allowed malicious Russian state actors to purchase and target ads in a campaign to influence the 2016 election.
I am also concerned about the lack of diversity in Facebook’s upper ranks, and fear that if these plans go forward, women and minorities and women- and minority-owned businesses may be excluded from participating fully.
In light of these and other concerns, my colleagues and I wrote to Facebook earlier this month to call on it to cease implementation of its plans until regulators and Congress can examine the issues associated with a large technology company developing a digital currency and take action. The Independent Community Bankers of America and others support this commonsense step.
Facebook’s plans also raise larger concerns about Big Tech’s expansion into financial services, as it appears to inappropriately mix commerce and banking activities. So, today we will discuss a draft bill, the Keep Big Tech Out of Finance Act, which would prevent large platform utilities like Facebook from becoming financial institutions and block them from creating their own currencies.
Today’s hearing is only the first step in our oversight and legislative process. I look forward to hearing from our witnesses.
#NNPA BlackPress
LIHEAP Funds Released After Weeks of Delay as States and the District Rush to Protect Households from the Cold
BLACKPRESSUSA NEWSWIRE — The federal government has released $3.6 billion in home heating assistance after a delay that left states preparing for the start of winter without the program’s annual funding.
By Stacy M. Brown
Black Press USA Senior National Correspondent
The federal government has released $3.6 billion in home heating assistance after a delay that left states preparing for the start of winter without the program’s annual funding. The Low-Income Home Energy Assistance Program, known as LIHEAP, helps eligible households pay heating and cooling bills. The release follows a shutdown that stretched 43 days and pushed agencies across the country to warn families of possible disruptions.
State officials in Minnesota, Kansas, New York, and Pennsylvania had already issued alerts that the delay could slow the processing of applications or force families to wait until December for help. In Pennsylvania, more than 300,000 households depend on the program each year. Minnesota officials noted that older adults, young children, and people with disabilities face the highest risk as temperatures fall.
The delay also raised concerns among advocates who track household debt tied to rising utility costs. National Energy Assistance Directors Association Executive Director Mark Wolfe said the funds were “essential and long overdue” and added that high arrearages and increased energy prices have strained families seeking help.
Some states faced additional pressure when other services were affected by the shutdown. According to data reviewed by national energy advocates, roughly 68 percent of LIHEAP households also receive nutrition assistance, and the freeze in multiple programs increased the financial burden on low-income residents. Wolfe said families were placed in “an even more precarious situation than usual” as the shutdown stretched into November.
In Maryland, lawmakers urged the Trump administration to release funds after the state recorded its first cold-related death of the season. The Maryland Department of Health reported that a man in his 30s was found outdoors in Frederick County when temperatures dropped. Last winter, the state documented 75 cold-related deaths, the highest number in five years. Rep Kweisi Mfume joined more than 100 House members calling for immediate federal action and said LIHEAP “is not a luxury” for the 100,000 Maryland households that rely on it. He added that seniors and veterans would be placed at risk if the program remained stalled.
Maryland Gov. Wes Moore used $10.1 million in state funds to keep benefits moving, but noted that states cannot routinely replace federal dollars. His administration said families that rely on medical equipment requiring electricity are particularly vulnerable.
The District of Columbia has already mapped out its FY26 LIHEAP structure in documents filed with the federal government. The District’s plan shows that heating assistance, cooling assistance, weatherization, and year-round crisis assistance operate from October 1 through September 30. The District allocates 50 percent of its LIHEAP funds to heating assistance, 10 percent to cooling, 13 percent to year-round crisis assistance, 15 percent to weatherization, and 10 percent to administrative costs. Two percent is used for services that help residents reduce energy needs, including education on reading utility bills and identifying energy waste.
The District’s plan lists a minimum LIHEAP benefit of $200 and a maximum of $1,800 for both heating and cooling assistance. Crisis benefits are provided separately and may reach up to $500 when needed to resolve an emergency. The plan states that a household is considered in crisis if it has been disconnected from energy service, if heating oil is at 5 percent or less of capacity, or if the household has at least $200 owed after the regular benefit is applied.
The District’s filing notes that LIHEAP staff conduct outreach through community meetings, senior housing sites, Advisory Neighborhood Commissions, social media, posters, and mass mailings. The plan confirms that LIHEAP applicants can apply in person, by mail, by email, or through a mobile-friendly online application and that physically disabled residents may request in-home visits.
As agencies nationwide begin distributing the newly released funds, states continue working through large volumes of applications. Wolfe said LIHEAP administrators “have been notified that the award letters have gone out and the states can begin to draw down the funds.”
#NNPA BlackPress
Seven Steps to Help Your Child Build Meaningful Connections
BLACKPRESSUSA NEWSWIRE — Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think
By Niyoka McCoy, Ed.D., Chief Learning Officer, Stride/K12
Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think: They lay the foundation for some of life’s most important skills.
Through everyday play, young children begin learning essential social and emotional skills like sharing, resolving conflicts, showing empathy, and managing their emotions. These social skills help shape emotional growth and set kids up for long-term success. Socialization in early childhood isn’t just a “nice-to-have”—it’s essential for development.
Yet today, many young children who haven’t yet started school aren’t getting enough consistent, meaningful interaction with peers. Research shows that there’s a decline in active free play and peer socialization when compared to previous generations.
There are many reasons for this. Children who are home with a parent during the day may spend most of their time with adults, limiting opportunities for peer play. Those in daycare or preschool may have restricted free play, and large classrooms can reduce supervision and social coaching. Some children live in rural areas, are homebound due to illness, have full schedules, or rely on screens to fill their playtime. And for some families, finding other families with young children to connect with isn’t easy.
While these challenges can feel significant, opportunities for connection still exist in every community. Families can take simple steps to help children build friendships, create a sense of belonging, and strengthen social skills. Here are some ideas to get started:
- Storytime sessions at libraries or local bookstores
- Community offerings such as parent-child workshops, art, music, gymnastics, swimming, or sports programs
- Weekly events at children’s museums, which may include art projects, music workshops, or science experiments
- Outdoor exploration, where kids can play with peers
- Local parenting groups that organize playdates and group activities
- Volunteer opportunities where children can participate, such as pet adoption events or packing meals at a food bank
- Classes for kids at local businesses, including hardware, grocery, or craft stores
Some of these community activities are free or low-cost and give kids the chance to build friendships and practice social skills. Parents can also model positive social behavior by interacting with other parents and encouraging their children to play with their peers.
These may seem like small moments of connection, but they can have a powerful impact. Every time your child shares a toy, plays make-believe with peers, or races a friend down the slide, they’re not just playing—they’re learning the skills that build confidence, empathy, and lasting friendships. And it’s good for you, too. Creating intentional opportunities for play also helps you strengthen your own network of parents who can support one another as your children grow together.
#NNPA BlackPress
Seven Steps to Help Your Child Build Meaningful Connections
BLACKPRESSUSA NEWSWIRE — Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think
By Niyoka McCoy, Ed.D., Chief Learning Officer, Stride/K12
Swinging side by side with a friend on the playground. Sharing chalk over bright, colorful sidewalk drawings. Hiding behind a tree during a spirited game of hide-and-seek. These simple moments between children may seem small, but they matter more than we think: They lay the foundation for some of life’s most important skills.
Through everyday play, young children begin learning essential social and emotional skills like sharing, resolving conflicts, showing empathy, and managing their emotions. These social skills help shape emotional growth and set kids up for long-term success. Socialization in early childhood isn’t just a “nice-to-have”—it’s essential for development.
Yet today, many young children who haven’t yet started school aren’t getting enough consistent, meaningful interaction with peers. Research shows that there’s a decline in active free play and peer socialization when compared to previous generations.
There are many reasons for this. Children who are home with a parent during the day may spend most of their time with adults, limiting opportunities for peer play. Those in daycare or preschool may have restricted free play, and large classrooms can reduce supervision and social coaching. Some children live in rural areas, are homebound due to illness, have full schedules, or rely on screens to fill their playtime. And for some families, finding other families with young children to connect with isn’t easy.
While these challenges can feel significant, opportunities for connection still exist in every community. Families can take simple steps to help children build friendships, create a sense of belonging, and strengthen social skills. Here are some ideas to get started:
- Storytime sessions at libraries or local bookstores
- Community offerings such as parent-child workshops, art, music, gymnastics, swimming, or sports programs
- Weekly events at children’s museums, which may include art projects, music workshops, or science experiments
- Outdoor exploration, where kids can play with peers
- Local parenting groups that organize playdates and group activities
- Volunteer opportunities where children can participate, such as pet adoption events or packing meals at a food bank
- Classes for kids at local businesses, including hardware, grocery, or craft stores
Some of these community activities are free or low-cost and give kids the chance to build friendships and practice social skills. Parents can also model positive social behavior by interacting with other parents and encouraging their children to play with their peers.
These may seem like small moments of connection, but they can have a powerful impact. Every time your child shares a toy, plays make-believe with peers, or races a friend down the slide, they’re not just playing—they’re learning the skills that build confidence, empathy, and lasting friendships. And it’s good for you, too. Creating intentional opportunities for play also helps you strengthen your own network of parents who can support one another as your children grow together.
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