All Information (Except Text) for S.2637 - Mind Your Own Business Act of 2019116th Congress (2019-2020)
|Sponsor:||Sen. Wyden, Ron [D-OR] (Introduced 10/17/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 10/17/2019 Read twice and referred to the Committee on Finance. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Title(s) as Introduced
Mind Your Own Business Act of 2019
Actions Overview (1)
|10/17/2019||Introduced in Senate|
10/17/2019 Introduced in Senate
All Actions (1)
|10/17/2019||Read twice and referred to the Committee on Finance.|
Action By: Senate
10/17/2019 Read twice and referred to the Committee on Finance.
|Committee / Subcommittee||Date||Activity||Related Documents|
|Senate Finance||10/17/2019||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
- Administrative law and regulatory procedures
- Administrative remedies
- Business records
- Civil actions and liability
- Computer security and identity theft
- Computers and information technology
- Consumer affairs
- Contracts and agency
- Corporate finance and management
- Executive agency funding and structure
- Federal Trade Commission (FTC)
- Federal officials
- Fraud offenses and financial crimes
- Government employee pay, benefits, personnel management
- Government information and archives
- News media and reporting
- Right of privacy
- Sales and excise taxes
- State and local government operations
Latest Summary (1)
Introduced in Senate (10/17/2019)
Mind Your Own Business Act of 2019
This bill requires assessments, periodic reporting, and the development of an opt-out process for specified commercial entities that operate high-risk information systems or automated-decision systems, such as those that use artificial intelligence or machine learning. An automated-decision system or information system is considered high risk if it (1) raises security or privacy concerns; (2) involves the personal information of a significant number of people; or (3) systematically monitors a large, publicly-accessible physical location. An automated-decision system is also considered high risk if it (1) may contribute to inaccuracy, bias, or discrimination or (2) facilitates decision-making about sensitive aspects of consumers' lives by evaluating their behavior.
Covered commercial entities must assess such high-risk systems and evaluate the extent to which they protect against the risk of exposing personal information. The bill further requires certain larger commercial entities to submit an annual report for which corporate officers must certify that the entity is in compliance with the Federal Trade Commission's (FTC) implementing regulations. A failure to comply with the reporting requirements is subject to criminal penalties and excise tax.
Among other provisions, the bill requires the FTC to create a web portal for consumers to opt out of data sharing and view their opt-out status. Opting out prevents covered commercial entities from sharing personal information with third parties.
The bill increases the civil penalties for unfair trade practices, which the bill modifies to include practices that involve noneconomic impacts or create a significant risk of exposing personal information.