How to regulate Facebook

No federal law spells out what companies trading in personal information can do with user data. No federal agency has clear jurisdiction over writing rules for internet companies. And public concern about personal data falling into the wrong hands has only recently swelled. Now lawmakers are feeling the heat. In the wake of Facebook's Cambridge Analytica scandal, people are reconsidering whether they mind handing their personal information over to social networks so they could chat with friends or take fun quizzes. There are lots of signals that data privacy rules of some sort are on the way — including congressional hearings and Mark Zuckerberg's acknowledgement that regulations may not be such a bad thing. The social network also faces state and federal investigations. Look for proposals on data portability, transparency and new opt-in rules. New privacy rules in Europe are also a template. But in the US, we're far from a consensus on the right approach.