Personal Data Protection: New Rules for Information Brokers
This act introduces new rules for companies that collect and sell your personal data. It aims to better protect your privacy by making it harder for fraud and discrimination to occur. These companies will need to register and disclose their practices.
Key points
Data brokers cannot acquire or use your personal information for fraud, harassment, or discrimination (e.g., in employment, housing, credit).
These companies must protect your data from breaches and notify you if they are acquired by another entity that plans to continue using your information.
Data brokers will be required to register annually with the Federal Trade Commission (FTC) and provide details about their data collection practices, including opt-out options.
The FTC will enforce these rules and can impose penalties for violations, including failure to register.
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