Andrew Trunsky
President Joe Biden is taking aim at Big Tech and Big Telecom’s growing power with a new executive order that will add regulations and facilitate competition within the industries.
The order, which Biden is expected to sign Friday, includes over 70 provisions, all aimed at promoting competition within tech and telecom, both of which have become more monopolistic in recent years.
It encourages the Federal Trade Commission to overhaul its rules regarding personal data collection and bans unfair competition practices online, according to a White House fact sheet. It also calls for more scrutiny when examining potential corporate mergers, especially when a larger corporation acquires a smaller one or when it could affect customers’ privacy or competition within the sector.
The executive order also encourages the Federal Communications Commission to restore Obama-era net neutrality rules, which prohibit telecom companies from prioritizing web traffic for those paying more. The rules were scrapped by former President Donald Trump.
It also includes provisions that prevent telecom companies from imposing “excessive” early termination fees and bar landlords from offering just one telecom provider to tenants.
Biden is scheduled to give remarks about the order Friday afternoon.
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