Brown Statement on Payment Providers Declining to Join Facebook's Libra Association

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement on MasterCard, Visa, and Stripe announcing that they will not join Facebook’s Libra Association.

“Large payment companies are wise to avoid legitimizing Facebook’s private, global currency,” said Brown.  Facebook is too big and too powerful, and it is unconscionable for financial companies to aid it in monopolizing our economic infrastructure.  I trust others will see the wisdom of avoiding this ill-conceived undertaking.”

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