S.1951 - Designing Accounting Safeguards To Help Broaden Oversight and Regulations on Data116th Congress (2019-2020)
|Sponsor:||Sen. Warner, Mark R. [D-VA] (Introduced 06/25/2019)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 10/24/2019 Committee on Banking, Housing, and Urban Affairs. Hearings held. (All Actions)|
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Summary: S.1951 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (06/25/2019)
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.