Washington – Business Roundtable, representing over 200 CEOs of America’s largest companies, today released a detailed framework for a national consumer data privacy law, urging Congress and the Administration to pass such legislation in 2019. The CEO-led proposal was developed with the input of companies from virtually every major sector across American industry—technology, communications, retail, financial services, health, manufacturing, hospitality, insurance and others.
“There is an unprecedented opportunity to establish an innovative privacy landscape and underscore the need for a national privacy law,” said Julie Sweet, Chief Executive Officer – North America of Accenture and Chair of the Business Roundtable Technology Committee.“Consumers do not feel in control of their personal data and how it is collected, used and shared. U.S. laws to protect consumer privacy are highly fragmented, inconsistent and are nonexistent for much of the U.S. economy. A comprehensive national standard that details individual data privacy rights and provides clear obligations for how companies handle personal data is crucial for consumers, business and the U.S. economy.”
The Business Roundtable legislative framework outlines four fundamental privacy rights for consumers:
- The right to transparency regarding a company’s data practices, including the types of personal data that a company collects, the purposes for which this data is used and whether and for what purposes personal data is shared.
- The right to exert control over their data, including the ability to control whether companies sell their personal data.
- The right to access and correct inaccuracies in their personal data.
- The right to delete their personal data.
The proposal, which calls for preemption of state and local privacy requirements, also includes sections on enforcement, data security and breach notification, governance, risk-based privacy practices and covered organizations and the effect on other laws.
“Maintaining consumer trust and confidence is one of the most important principles for member companies of Business Roundtable,” said Joshua Bolten, President & CEO of Business Roundtable. “The lack of a uniform national privacy law that applies to all sectors undermines consumer trust in all industries. The time is now to enact federal consumer privacy legislation. As a top legislative priority of our CEOs, Business Roundtable looks forward to working with policymakers on both sides of the aisle to build and reach consensus on a national privacy bill.”
In January, Business Roundtable will release an Innovation Policy Agenda aimed at ensuring the United States remains the global leader in innovation across all sectors of the economy and for generations to come. Safeguarding data and protecting consumer privacy will be a key component.
To read Business Roundtable’s framework on national consumer privacy legislation, click here.