Privacy Legislation Update: Part 2
There have been a few developments since my last post related to privacy legislation governing behavioral targeting, so here are a few noteworthy updates. While I thought a draft bill would have been introduced to the House Committee on Energy and Commerce before the end of 2009, I certainly did not hear anyone in the online advertising industry complaining about it. There have been, however, plenty of complaints registered in recent months over a plan currently being negotiated in the Senate Banking Committee that would create an independent Consumer Financial Protection Agency and reauthorize the Federal Trade Commission as part of pending finance reform legislation.
The plan attracted new attention from the industry last week when the IAB and other trade groups sent a letter to the Committee warning that the FTC could become too powerful under such a plan. Pace Lattin's view was more entertaining than most news coverage of the topic and my favorite post since the ADBUMB founder launched his new blog, Industry Pace. The current political climate is one likely to see financial reform bill pass, however both The Huffington Post and Fox Business report that bipartisan support for financial reform may hinge on dropping the CFPA issue.
Meanwhile, efforts in the House by Reps. Boucher and Stearns to introduce consumer privacy legislation that could mandate an opt-in consent for data collection remain in hearings before the Subcommittee on Commerce, Trade and Consumer Protection, most recently Exploring the Offline and Online Collection and Use of Consumer Information on Thursday, November 19, 2009.
Kudos to the entire industry's aggressive self-regulatory efforts in staving off any harmful legislation so far, and especially the leadership of Randall Rothenberg ,whose recent op-ed piece in The Hill did a great job of defending our collective position on the topic.