Mind Your Own Business Act of 2019
The source supplies the latest action, but no lifecycle stage.
Latest action (17 Oct 2019): Read twice and referred to the Committee on Finance.
What this bill does
Here is a neutral, plain-English summary based on the provided text:
The Mind Your Own Business Act of 2019 would amend the Federal Trade Commission Act to create new privacy and data-security obligations for large companies and data brokers. It would let the FTC treat "noneconomic" harms, such as exposure of personal information, as grounds for enforcement, and would raise civil penalties for violations to the greater of $50,000 per violation or 4% of a company's prior-year annual gross revenue. It would require certain large "covered entities" to file annual data protection reports with the FTC, certified under penalty of new federal criminal penalties (fines and up to 10–20 years imprisonment) for executives who knowingly certify false reports. It also directs the FTC to create regulations, including a "Do Not Track" opt-out system letting consumers block sharing of their personal data with third parties, with specified exceptions (e.g., legal orders, fraud investigation) and rules for obtaining consumer consent.
The bill would primarily affect companies with more than $50 million in annual revenue, those holding data on over one million consumers or devices, data brokers, and their corporate officers, as well as consumers, who would gain new disclosure, consent, and opt-out rights regarding their personal data.
Introduced in the Senate on October 17, 2019, by Senator Ron Wyden, the bill was referred to the Committee on Finance. It did not receive a vote and did not advance further in Congress.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
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.
Timeline
17 Oct 2019
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 2637 do?
- Here is a neutral, plain-English summary based on the provided text: The Mind Your Own Business Act of 2019 would amend the Federal Trade Commission Act to create new privacy and data-security obligations for large companies and data brokers. It would let the FTC treat "noneconomic" harms, such as exposure of personal information, as grounds for enforcement, and would raise civil penalties for violations to the greater of $50,000 per violation or 4% of a company's prior-year annual gross revenue. It would require certain large "covered entities" to file annual data protection reports with the FTC, certified under penalty of new federal criminal penalties (fines and up to 10–20 years imprisonment) for executives who knowingly certify false reports. It also directs the FTC to create regulations, including a "Do Not Track" opt-out system letting consumers block sharing of their personal data with third parties, with specified exceptions (e.g., legal orders, fraud investigation) and rules for obtaining consumer consent. The bill would primarily affect companies with more than $50 million in annual revenue, those holding data on over one million consumers or devices, data brokers, and their corporate officers, as well as consumers, who would gain new disclosure, consent, and opt-out rights regarding their personal data. Introduced in the Senate on October 17, 2019, by Senator Ron Wyden, the bill was referred to the Committee on Finance. It did not receive a vote and did not advance further in Congress.
- Has S. 2637 become law?
- The source does not supply a confirmed lifecycle stage for S. 2637. Check the latest action and official source below.
- Who sponsored S. 2637?
- S. 2637 was sponsored by Sen. Wyden, Ron [D-OR] (D-OR), with 0 cosponsors.
- What's the latest action on S. 2637?
- Read twice and referred to the Committee on Finance. (17 Oct 2019).
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