FTC Orders Data Brokers To Detail Use Of Private Info

FTC Orders Huge Data Brokers To Supply Policy Information

  @DavidZie on December 18 2012 12:34 PM

 

The U.S. Federal Trade Commission ordered nine of the latgest information brokers to turn over details how they collect and maintain private data.

 

The FTC said it wants the information before preparing a final report on the industry, which currently faces no rules about how it handles sensitive personal information.

 

The orders went to Acxiom Corp. (NASDAQ:AXCM), Corelogic Inc. (NYSE:CRLG), Datalogix, eEureau, LifeLock Inc's (NASDAQ:LOCK) IDAnalytics unit, Intelius, Peekyou, Rapleaf and RecordFuture.

 

The FTC, which cracked down on Google (NASDAQ:GOOG) and Facebook (NASDAQ:FB) for privacy abuses in August, has been crusading for better practices under Chairman Jon Leibowitz. Google paid a record fine of $22.5 million while Facebook signed a consent decree and agreed to be monitored for 20 years.

 

The companies also need to tell the regulators how consumers can access, verify and correct their information, as well as opt out of having it sold to others.

 

The FTC voted 5-0 to issue the order.

 

Shares of Acxiom and Corelogix rose slightly in Tuesday trading, while those of LifeLock fell 16 cents to $7.41.

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