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The US isn’t likely to become adequate any time soon. Our economy is not designed to run on that level of protection, what with personal information fueling high flyers on the US stock markets and legions of start-ups right behind them.
The EU also protects what is known as “sensitive information.” Sensitive information includes racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, health or sex life. And while the US generally defines personal information almost mathematically as Name + SSN/Bank or Health Info = Personal Information, the EU is much more broad with their circular definition of personal information as "any information relating to an identified or identifiable natural person."
Privacy in the US focuses from a legislative standpoint on preventing the theft of one’s identity, resulting in a negative financial impact. Privacy in the EU is far broader, not limited to financial concerns, and regulated by data protection authorities at the EU and country level.
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