President Obama intends to give people more control over their data
On Monday, President Obama shared at the Federal Trade Commission that the administration has designed four proposals to address growing concerns among Americans that they no more have control over their personal information.
Among the new set of four broad digital-age consumer protections are Consumer Privacy Bill of Rights and a Student Digital Privacy Act. The announcement acted as a preview of the proposals that Obama will make in his upcoming State of the Union address.
Obama also announced that more number of financial institutions will provide consumers free access to their credit scores, including USAA and JPMorgan. Obama is in complete favor of new consumer rights that will bring balance between protecting privacy and promoting innovation.
Obama said that the level of prosperity they expect is dependent on digital economy. By the end of this month, Obama said the Consumer Privacy Bill of Rights will be announced. As per the bill, consumers will be able to decide the data that companies can collect.
Not only this, consumers would also be able to limit how the data is used. Another bill is Student Digital Privacy Act. This bill aims to strengthen protection measures for students. The legislation would not allow profiling students and would also ban the use of data for marketing purposes.
Obama has appreciated a lately passed legislation in California that includes strict bans on marketing and severe restrictions have been levied on the sales of data to third parties.
The Department of Education is also coming up with new ways that will help schools deal with the privacy implications of the software and hardware they use. Currently, 47 states are implementing similar laws related to data breach. "The more we protect privacy, the harder it is for hackers to hurt the economy", said Obama.
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