Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
EPA places numerous employees on leave for alleged...
2 lone Republicans vote against Trump’s ‘big, beautiful...
Trump administration torpedoes SCOTUS with emergency requests and...
Mike Johnson touts ‘beauty of unified government’ after...
Saudi defense minister secretly meets with Trump to...
Trump administration swarms SCOTUS with emergency requests and...
North Korea lashes out after Trump DOJ exposes...
President Trump to honor Iran strike flight team...
This July 4th, a family waits: American hostage’s...
Iran regime escalates repression toward ‘North Korea-style model...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Politics

23andMe bankruptcy prompts Cornyn-Grassley-Klobuchar bipartisan bill to protect sensitive genetic data

by admin May 23, 2025
May 23, 2025
23andMe bankruptcy prompts Cornyn-Grassley-Klobuchar bipartisan bill to protect sensitive genetic data

: Republican senators John Cornyn and Chuck Grassley and Democratic Sen. Amy Klobuchar are rolling out a bipartisan measure to protect sensitive genetic data in response to privacy concerns sparked by 23andMe’s bankruptcy, Fox News Digital has learned. 

Cornyn, R-Texas; Grassley, R-Iowa; and Klobuchar, D-Minn., are introducing the Don’t Sell My DNA Act, which would safeguard customers’ sensitive genetic information when an entity that maintains data files for bankruptcy. The bill would add genetic information to the definition of ‘personally identifiable information’ in the bankruptcy code. 

Under current law, the bankruptcy code provides protections for personally identifiable information in bankruptcy court proceedings to prevent the possibility of identity theft, harm or other unlawful injury. 

Senate aides told Fox News Digital the current definition of personally identifiable information includes an individual’s name, address, email, phone number, Social Security number, credit card numbers and other information that could be used for identification purposes. 

Those aides said the definition is ‘outdated’ and does not include a reference to genetic information, leaving the information vulnerable.

‘This legislation would solve this problem by updating the definition of ‘personally identifiable information’ in the bankruptcy code to include genetic information,’ a Senate aide said. 

The bill also addresses consumer privacy concerns by having consumers affirmatively consent to the sale or lease of their genetic information after a bankruptcy case commences and requiring companies to provide prior written notice of the use, sale or lease of their genetic information during bankruptcy. 

The bill also requires the trustee or debtor in possession to delete any genetic information not subject to a sale or lease. 

‘Advances in DNA testing have allowed Americans to have unprecedented access to important insights about their genetics, but these companies must have a plan to protect this data in the event of bankruptcy,’ Cornyn told Fox News Digital. 

‘By updating the bankruptcy code, this legislation would safeguard Americans’ sensitive genetic information to ensure it cannot be weaponized against them or made public without their knowledge and consent.’

And Klobuchar said companies ‘have profited off of Americans’ data while consumers have been left in the dark, which is especially concerning in light of reports that 23andMe plans to sell customer genetic data assets to a large pharmaceutical company.’ 

‘This bill will put new protections in place to safeguard Americans’ privacy while giving consumers greater control over how their sensitive health data is shared,’ Klobuchar said. 

Grassley told Fox News Digital consumers should ‘feel confident that any personal nformation shared with a public company isn’t up for grabs when that company files for bankruptcy.’

Grassley told Fox News Digital the bill ‘would fill gaps in current law to help safeguard consumers’ genetic information and ensure Americans’ DNA isn’t treated like any other financial asset.’ 

On Monday, 23andMe announced Regeneron Pharmaceuticals would purchase 23andMe through a bankruptcy auction. 

Senate aides said Regeneron promises to ‘protect consumer information, but the data privacy concerns for future bankruptcies remain.’ 

The genetic testing company 23andMe, once a pioneer in consumer DNA testing, filed for Chapter 11 bankruptcy in March amid financial struggles, a leadership shakeup and growing concerns about the security of its customers’ genetic data.

Regeneron Pharmaceuticals announced it will acquire ‘substantially all’ of genetic testing company 23andMe’s assets.

The pharmaceutical company said it won the court-supervised auction of the genetic testing company, with Regeneron agreeing to pay $256 million for the assets. The auction for 23andMe was part of the Chapter 11 bankruptcy protection it filed in March to arrange a sale of its business.

In its bankruptcy petition, the company estimated a range of $100 million to $500 million for its assets. Estimated liabilities were the same. 

The pharmaceutical company is buying 23andMe’s personal genome service and its health and research services segments, according to 23andMe. 

This post appeared first on FOX NEWS

previous post
‘Half a dozen’ more states to ban soda, junk food purchases with food stamps, Trump Agriculture secretary says
next post
White House decries ‘evil of antisemitism,’ vows justice after fatal shooting of Israeli embassy staffers

You may also like

Karine Jean-Pierre peppered with questions about Hunter Biden...

December 7, 2024

Ceasefire over as Israel strikes Gaza after Hamas...

March 18, 2025

Elon Musk strategizes $1 trillion spending cuts with...

March 6, 2025

Elon Musk’s attacks on Trump’s ‘big, beautiful bill’...

July 1, 2025

Sen. Sanders says he is looking forward to...

November 16, 2024

Kirby slams Hamas chief Sinwar as ‘the major...

September 23, 2024

Trump clarifies he meant Cheney wouldn’t have ‘guts’...

November 2, 2024

What are election betting odds? Expert explains why...

October 22, 2024

GOP unveils new weapon to help slash billions...

June 10, 2025

Jimmy Carter’s funeral will bring all five living...

January 9, 2025

Recent Posts

  • EPA places numerous employees on leave for alleged misuse of official titles in unauthorized letter
  • 2 lone Republicans vote against Trump’s ‘big, beautiful bill’ as it heads to president’s desk
  • Trump administration torpedoes SCOTUS with emergency requests and sees surprising success
  • Mike Johnson touts ‘beauty of unified government’ after Trump’s ‘big, beautiful bill’ sails through Congress
  • Saudi defense minister secretly meets with Trump to discuss Iran de-escalation, Israel: sources

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (815)
    • Investing (2,453)
    • Politics (3,060)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.