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HR 8512 116th Congress House Finance and Financial Sector Administrative law and regulatory procedures Consumer affairs Financial services and investments Internet and video services Internet, web applications, social media Marketing and advertising Securities Securities and Exchange Commission (SEC)

Designing Accounting Safeguards To Help Broaden Oversight and Regulations on Data

Introduced: October 2, 2020 Introduced by: Foster, Bill Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 2, 2020
Introduced in House
Oct 2, 2020
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
 Plain-English summary Congressional Research Service

Designing Accounting Safeguards To Help Broaden Oversight and Regulations on Data

This bill requires commercial data operators (i.e., large consumer online services providers or data brokers) to disclose to users what types of user data are collected, and the usage and value of that data. Commercial data operators must also provide users with a way to delete this data. Violations of these requirements are enforced by the Federal Trade Commission.

Commercial data operators that issue securities must report the value of their user data and the value of any third-party contracts made for the collection of user data.

What's happening now October 2, 2020

Referred to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1