Biden will sign an executive order cracking down on Big Tech mergers – By Isobel Asher Hamilton (Business Insider) / July 9 2021
- Joe Biden will sign an executive order cracking down on Big Tech, the New York Times reports.
- Biden’s order will tell agencies to scrutinize Big Tech mergers more closely.
- It will also tell the FTC to draw up rules for how tech companies can use consumer data.
- See more stories on Insider’s business page.
President Joe Biden will on Friday sign an executive order cracking down on the power of Big Tech firms, as first reported by The New York Times.
The order will, first, tell federal agencies to scrutinize mergers involving Big Tech firms more closely, especially when these firms try to buy smaller companies that could one day become their competitors, per The Times.
Second, the order will instruct the Federal Trade Commission (FTC) to draw up rules and limitations on how Big Tech companies can use consumer data to their advantage, The Times reported.
On top of the orders specifically targeting Big Tech companies, Biden will also reportedly ask the Federal Communications Commission (FCC) to create new rules for broadband internet providers, and encourage the FCC readopt net neutrality rules.
