Consumer protection program

(a) In general Each social media platform and online marketplace shall establish and implement a consumer protection program that includes policies, practices, and procedures regarding consumer protection and content moderation— (1) to— (A) ensure compliance with applicable Federal, State, and local consumer protection laws; (B) develop, implement, and ensure compliance with the terms of service required by section 2; (C) develop and implement policies regarding the content and behavior permitted on its service both by the platform and users, and ensure compliance with such policies, practices and procedures; (D) mitigate risks that could be harmful to consumers’ safety, well-being, and reasonable expectations of users of the social media platform or online marketplace, including cyber harassment; (E) implement reasonable safeguards within, and training and education of employees and contractors of, the social media platform or online marketplace to promote compliance with all consumer protection laws and the consumer protection program; and (F) disclose any other requirement the Commission deems appropriate; and (2) taking into consideration— (A) the size of, and the nature, scope, and complexity of the activities engaged in by the social media platform and online marketplace; (B) the activities engaged in by users on the social media platform or online marketplace; and (C) the cost of implementing the program. (b) Additional requirements As part of the consumer protection program, a social media platform or online marketplace shall— (1) establish processes to monitor, manage, and enforce the social media platform’s or online marketplace’s consumer protection program, and demonstrate the covered entity’s compliance with Federal, State, and local consumer protection laws; (2) establish processes to assess and mitigate the risks to individuals resulting from the social media platform’s or online marketplace’s amplification of content or products not in compliance with its terms of service; (3) establish a process to periodically review and update the consumer protection program; (4) appoint a consumer protection officer, who reports directly to the chief executive officer; and (5) establish and implement controls to monitor and mitigate known or reasonably foreseeable risks to consumers resulting from hosting content or products. (c) Annual filings to the FTC (1) Filing requirements Each social media platform or online marketplace that either has annual revenue in excess of $250,000 in the prior year or that has more than 10,000 monthly active users on average in the prior year, shall be required to submit to the Commission, on an annual basis, a filing that includes— (A) a detailed and granular description of each of the requirements in section 2 and this section; (B) the name and contact information of the consumer protection officer required under subsection (b)(4); and (C) a description of any material changes in the consumer protection program or the terms of service since the most recent prior disclosure to the Commission. (2) Officer certification For each entity that submits an annual filing under paragraph (1), the entity’s principal executive officer and the consumer protection officer required under subsection (b)(4), shall be required to certify in each such annual filing that— (A) the signing officer has reviewed the filing; (B) based on such officer’s knowledge, the filing does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements, in light of the circumstances under which such statements were made, not misleading; (C) based on such officer’s knowledge, the filing fairly presents in all material respects the consumer protection practices of the social media platform or online marketplace; and (D) the signing consumer protection officer— (i) is responsible for establishing and maintaining safeguards and controls to protect consumers and administer the consumer protection program; and (ii) has provided all material conclusions about the effectiveness of such safeguards and controls. (3) Public availability The Commission shall make publicly available on the website of the Commission the filings submitted under paragraph (1). The Commission may withhold information included in such a filing if the Commission determines such information should not be public. If the Commission withholds any information, the Commission shall make publicly available on the website the category of information withheld and the reasons for withholding it.