H.R.8512 - Designing Accounting Safeguards To Help Broaden Oversight and Regulations on Data116th Congress (2019-2020) |
|Sponsor:||Rep. Foster, Bill [D-IL-11] (Introduced 10/02/2020)|
|Committees:||House - Energy and Commerce; Financial Services|
|Latest Action:||House - 10/02/2020 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. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.8512 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (10/02/2020)
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.