The first paragraph is completely wrong. Of the things listed in the first paragraph as things the bill requires, not a single one is correct.
The only factual statement in that paragraph is the link to the bill text.
In fact, I cannot find any even remotely plausible (or even an implausible) way to misread the bill so as to come up with his claims. Either the author is simply lying (to generate controversy and traffic perhaps), or is just repeating something he got elsewhere and made no effort whatsoever to verify.
This is not HN quality material. Flagging.
For those curious, here's what is actually going on. Under current law, an ISP has to cough up certain customer information to the government upon a proper legal request. That information is name, address, phone number connection records or session times and durations, how long the customer has been a customer and what services they use, subscriber phone number or subscriber number, temporary network addresses, means and source of how they pay for the service (including credit card number if that is how they pay).
As far as I can see, there is no requirement that the ISP retain this information. They just have to make it available if they have it. Practically, of course, most of it will be retained for business purposes.
What this bill adds to this is that the ISP has to keep a log for one year of temporary IP address assignments and mapping of them to the customer information listed earlier. So, it's adding a new data item to log, and it is making it so that the customer information mentioned early has to be kept a year (which in practice is not a change because it is almost certainly kept anyway regardless of legal requirements).
It also adds a section that says that access to this information may not be compelled except by a government entity. This may be good news for those who are doing file sharing, as on first reading it would prevent plaintiffs in civil suits from getting access to the information.
Anyway, there is nothing whatsoever that will "have your internet service provider tracking all of your financial dealings online. Each time you use a credit card, each time you read your bank statement, all of your IP information and your search history will be required by your ISP to be stored for 18 months at all times".
The only factual statement in that paragraph is the link to the bill text.
In fact, I cannot find any even remotely plausible (or even an implausible) way to misread the bill so as to come up with his claims. Either the author is simply lying (to generate controversy and traffic perhaps), or is just repeating something he got elsewhere and made no effort whatsoever to verify.
This is not HN quality material. Flagging.
For those curious, here's what is actually going on. Under current law, an ISP has to cough up certain customer information to the government upon a proper legal request. That information is name, address, phone number connection records or session times and durations, how long the customer has been a customer and what services they use, subscriber phone number or subscriber number, temporary network addresses, means and source of how they pay for the service (including credit card number if that is how they pay).
As far as I can see, there is no requirement that the ISP retain this information. They just have to make it available if they have it. Practically, of course, most of it will be retained for business purposes.
What this bill adds to this is that the ISP has to keep a log for one year of temporary IP address assignments and mapping of them to the customer information listed earlier. So, it's adding a new data item to log, and it is making it so that the customer information mentioned early has to be kept a year (which in practice is not a change because it is almost certainly kept anyway regardless of legal requirements).
It also adds a section that says that access to this information may not be compelled except by a government entity. This may be good news for those who are doing file sharing, as on first reading it would prevent plaintiffs in civil suits from getting access to the information.
Anyway, there is nothing whatsoever that will "have your internet service provider tracking all of your financial dealings online. Each time you use a credit card, each time you read your bank statement, all of your IP information and your search history will be required by your ISP to be stored for 18 months at all times".