White House privacy proposal aims to give consumers control over data

U.S. businesses that collect personal data would be required to describe their privacy and security practices and give consumers control over their personal information under a proposed privacy bill of rights released Friday by President Barack Obama’s administration.

The proposal would also require companies and nonprofit groups to collect and retain only the personal data they need to operate.

However, the proposal allows industry groups to submit their own codes of conduct to the Federal Trade Commission and shields companies that follow those codes from FTC enforcement actions.

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Story added 27. February 2015, content source with full text you can find at link above.