DASHBOARD Act of 2025

Summary

Requires large commercial data platforms to give users regular statements of the economic value assigned to their data, list what data is collected and how it is used, and provide an easy way for users to delete their data (with narrow legal and security exceptions). Treats failures as unfair or deceptive acts enforceable by the FTC and directs the SEC to require public companies that meet a high-user threshold to disclose the aggregate value of user data, major data contracts, data-driven revenue information, risk assessments, and other quantitative and qualitative data-accounting information in periodic reports.

• Large commercial data platforms must give users a valuation estimate of their individual data at least every 90 days.
• Platforms must disclose data types collected and uses not directly tied to the service and provide a single control to delete all user data, with limited legal and security exceptions.
• Violations are treated as unfair or deceptive acts and enforced by the FTC; the FTC must issue implementing rules within one year.
• Public companies that qualify as large commercial data operators must disclose aggregate user-data valuation, major data contracts, data-driven revenues, and related risks in periodic reports.
• The SEC must develop valuation methodologies with standards bodies, amend disclosure rules within one year, and report to Congress within three years with follow-up rulemaking.
• Disclosure thresholds include a user-size cutoff (over 100 million unique U.S. monthly users for a majority of months) and materiality tests for data value.
• The law creates cross-agency responsibilities: FTC enforces consumer-facing rules; the SEC enforces accounting and disclosure requirements for public issuers.
• Required disclosures call for both quantitative figures and qualitative context (protections, sources of data, impacts on cash flow and performance).
• The deletion requirement bans retention beyond necessary limits, tightening data retention policies for covered firms.
• The bill targets large platforms and public companies that monetize user data; smaller firms under thresholds are generally not covered.