Consumers’ data is immeasurably valuable to companies in the digital economy. Thus, it’s necessary to protect their information from bad actors and companies collecting and selling their information without their permission. This bill is a first step towards creating those protections.
This bill overrides states’ abilities to create their own more stringent consumer data protection laws and has a long timeframe for the enactment of the actual law. Additionally, it’s not clear that the FTC is equipped to determine the right consumer data protection framework.