Facebook's Mark Zuckerberg pulled in front of Congress by Rep Maxine Waters

Facebook CEO Mark Zuckerberg will testify before Congress on Oct. 23 at the request of House Financial Services Committee chair Rep. Maxine Waters, the committee announced Wednesday.

Continue Reading Below

The hearing is called "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors."

TickerSecurityLastChangeChange %
FBFACEBOOK INC.188.89+5.61+3.06%

The committee has focused on Facebook's plans to enter the cryptocurrency market through Libra. Waters convened a hearing on the topic in July and discussed a bill aimed at keeping Big Tech out of finance, including through prohibitions on entities ike Facebook from becoming registered U.S. financial institutions like banks.

"Mark looks forward to testifying before the House Financial Services Committee and responding to lawmakers' questions," a Facebook spokesperson told FOX Business.

Many lawmakers are looking into Facebook. The House Judiciary Committee will reportedly try to use a failed startup's lawsuit as a backdoor to internal Facebook documents that were sealed by a California judge.

GET FOX BUSINESS ON THE GO BY CLICKING HERE