The FTC issued a report on Monday morning calling for more rules and practices governing “data brokers”, which are firms that trade in personal information like names, addresses and purchasing information. The FTC does acknowledge industry self-governing standards that were implemented and are in the process of being implemented. However, the FTC calls for more governance than the self-imposed kind.
Not only should those self-imposed rules remain in place, but the industry should also create a centralized database outlining their practices. Congress is also being called upon to create legislation that would also provide more safeguards for individual consumers. Congress would codify the rules as well as create a system of rights that customers can appeal to. It would also clarify that do-not-track means not only do-not-advertise but also do-not-collect.
These concerns are old hat, which is not to say unfounded. The social media agency needs to do what it can to be fair and transparent as well to explain the benefits of these practices. Even though the FTC called for certain action, keeping public opinion in check is necessary to prevent Congressional legislation from overreaching. While the social media agency is often not the one doing the tracking, they are involved in the concerns and need to make sure the system appears as necessary and beneficial as possible.
