A proposed U.S. Senate bill would require companies to report to financial regulators and to the public what consumer data they collect and how they leverage it for profit. Sen. Mark R. Warner, D-Va., one of the bill’s authors, also pledged to introduce a bill to require tech companies to make data collected from users portable so it can be moved easily from one platform to another.
"Data portability is all well and good and could foster competition, but it doesn't work if there are no effective competitors in the market because they keep getting purchased by the larger companies," BKC’s Kendra Albert said.
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