Earlier today, the FTC released a preliminary staff report  entitled, "Protecting Consumer Privacy in an Era of Rapid Change: A Proposed Framework for Businesses and Policymakers." The report is over 100 pages long and suggests that changes need to be made regarding consumer privacy, stating:

Industry must do better. For every business, privacy should be a basic consideration – similar to keeping track of costs and revenues, or strategic planning. To further this goal, this report proposes a normative framework for how companies should protect consumers’ privacy.

We'll have our more detailed thoughts on this document posted shortly.