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U.S. Democratic Senator Ron Wyden released an early draft of a bill today that would subject company CEOs and senior executives to tough penalties including 10 to 20 years of imprisonment for failing to protect consumer data. Colin Lecher reporting in The Verge: “Wyden’s draft proposal, called the Consumer Data Protection Act, would give the FTC more authority and resources to police the use of data by adding a total of 175 new staff. Under the proposal, the FTC would also be allowed to fine companies up to 4 percent of revenue for a first offense.”
In summary, the bill empowers the Federal Trade Commission to:
The big picture: “If voters flip the House or, less likely, the Senate on Tuesday [US midterm election], it could supercharge the debate over privacy,” says David McCable of Axios. “Lawmakers are trying to get federal legislation in place before California’s new rules go into effect in 2020.”
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