New legislation takes shape on what tech companies can do with your data.

Two powerful lawmakers on Capitol Hill, one a Democrat, the other a Republican,

have reached an agreement on a sweeping set of rules governing data privacy.

The proposed legislation would establish national standards superseding a hodgepodge of state laws.

Here's Marketplace's Nova Safo. The agreement is between the chairs of Commerce Committees in the House and Senate, Democratic

Senator Maria Cantwell, and Republican Congresswoman Kathy McMorice Rogers.

Their draft bill would limit the data many companies can collect and

share and will give consumers the ability to access their data, delete it, or correct

it. Some entities would be exempt, including certain non-profits and businesses with $40 million or less in revenue.

The Federal Trade Commission will get new oversight powers, establishing a bureau

with the ability to update rules as technologies evolve.

Americans would be able to individually sue companies for violations, as would state attorneys

general.

The new proposal appears to have caught at least some in the tech world by surprise. The Information Technology

Industry Council, a trade group, said it supported a set of national standards but would

need to review the proposed bill. I'm Nova Software for Marketplace.

Groups of investors, we call them private equity, are increasingly interested in all the money

in health care. This is getting the attention of federal

officials

of justice and health and human services,

plus the Federal Trade Commission.

Separately, a Senate committee just sent letters

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