legislation

Follow-up to post: Cutting Costs at the Expense of Privacy

The issue of online privacy has been an ongoing battle – companies have continued to develop methods to gather consumer data to maximize their advertising revenue in this $25 billion industry. Lawmakers finally unveiled their proposed bill to regulate privacy on the Internet. The recently drafted bill aims to protect consumer privacy and regulate how marketers are aggregating information about consumers. The legislation will require companies to disclose how they are collecting, using, and sharing personally identifying data. Consumers will also need to give consent before using more protected information, such as social security numbers, medical records and financial accounts. With this bill, the Federal Trade Commission hopes to create a more secure online environment.

Do you think these regulations will be enough to protect consumers?