Why: Right now in America there is a data security and privacy crisis because we have no unified regulations or laws put in place to protect consumer data privacy.
What’s Going on: American consumers have had their data stolen, sold, and shared without their consent because businesses are rarely held accountable for data management. America needs a national law that protects both consumers and companies in a positive way with respect to data, data privacy, and data regulation.
Taking Action: Business Roundtable has created a framework which cohesively intertwines all different industry sectors in regards to data protection and management, which if put into effect, creates what is considered a National Consumer Privacy Law.
Framework Broken Down: Based on Business Roundtable’s framework, there are steps to be taken to improve trust and expectations when it comes to personal data. These steps for a national consumer law are:
Harmonized and consistent regulations across different businesses and industry sectors, the national consumer privacy law would not interfere with government issues regarding personal data, and the law would treat businesses with different levels of data engagement appropriately, such as smaller businesses who do not see a lot of web traffic will get appropriate coverage for low data usage.
What it all means: A US National Consumer Privacy Law as proposed by Business Roundtable, can help both American consumers and companies feel more comfortable of managing and controlling their own personal data.