A much-anticipated bill that may give the U.S. government the ability to collect civil penalties if a company misuses consumer data on the internet or allows it to be stolen could be drafted early next year, a lawmaker said on Tuesday. A subcommittee of the Senate Commerce, Science and Transportation Committee discussed elements of the bill on Tuesday, including the possibility that the Federal Trade Commission (FTC) could be given the authority as enforcer to oversee telecommunications companies and non-profits, exact civil penalties and create regulations
Tim Cook's wish for U.S. privacy legislation might come true early next year
Earlier this month, Apple CEO Tim Cook told reporters that legislation to protect personal data online was inevitable. And now it appears that the executive was spot on with his prediction. Reuters writes today that there is talk on Capitol Hill about a bill that could be drafted early next year, allowing the U.S. government to obtain civil penalties from companies that misuse consumer data online, or allow such data to be stolen.