FTC and Data Brokers

The Federal Trade Commission released its long-awaited report on data brokers this morning, saying the industry operates with "a fundamental lack of transparency."
The agency offered a long list of recommendations to Congress for legislation that would give consumers greater control over the personal information being collected and sold by such companies.
“The extent of consumer profiling today means that data brokers often know as much — or even more — about us than our family and friends, including our online and in-store purchases, our political and religious affiliations, our income and socioeconomic status, and more,” said FTC Chairwoman Edith Ramirez in a statement. “It’s time to bring transparency and accountability to bear on this industry on behalf of consumers, many of whom are unaware that data brokers even exist.”

The agency launched its investigation in December 2012, asking major data brokers how they collect, share and use consumers’ personal information. The Commission voted 4-0 to approve the report and recommendations, with newly-installed Commissioner Terrell McSweeny not participating, according to a news release.