This legislation will affect any credit card transaction made. Businesses will be required to give up that information once they swipe a card. The hopes of Internet privacy or being able to surf anonymously may be nonexistent if you use Amazon, PayPal, or any other online merchant. The online vendors are also required to divulge the information and report transactions to the government.
Many questions are raised throughout this article such as:
- What is the federal government's purpose with this kind of detailed data?
- How will this database be secured, and who will have access?
- Many small proprietors use their Social Security number as their tax ID. How will their privacy be protected?
- What compliance costs will this impose on businesses?
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