House Bill 8512
116th Congress(2019-2020)
Designing Accounting Safeguards To Help Broaden Oversight and Regulations on Data
Introduced
Introduced in House on Oct 2, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
8512
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Designing Accounting Safeguards To Help Broaden Oversight and Regulations on Data
This bill requires commercial data operators (i.e., large consumer online services providers or data brokers) to disclose to users what types of user data are collected, and the usage and value of that data. Commercial data operators must also provide users with a way to delete this data. Violations of these requirements are enforced by the Federal Trade Commission.
Commercial data operators that issue securities must report the value of their user data and the value of any third-party contracts made for the collection of user data.
October 2, 2020
10/02/2020
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
10/02/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:44:35 PM