New Curbs Sought on the Personal Data Industry

Source: New York Times

The Federal Trade Commission on Tuesday called on Congress to protect consumers against the unchecked collection and sharing of their digital data — from websites visited to their marital status — by providing people with tools to view, suppress and fix their information.

The agency also said the little-known companies, called data brokers, that analyze and sell huge amounts of the consumer information for marketing purposes, needed to be reined in and more transparent to the public.

Companies that trade in consumer data, the agency said in a 110-page report about the industry, suffered from “a fundamental lack of transparency.”

“You may not know them, but data brokers know you,” Edith Ramirez, chairwoman of the F.T.C., said in a conference call. It is an industry, she said, that “operates largely in the dark,” yet it has remarkably detailed information that includes online and store purchases, political and religious affiliations, personal income, and socioeconomic status.

Read more: http://www.nytimes.com/2014/05/28/technology/ftc-urges-legislation-to-shed-more-light-on-data-collection.html?rref=business&module=ArrowsNav&contentCollection=Business%20Day&action=keypress&region=FixedLeft&pgtype=article