President Obama has said that the country needs a strong privacy law so consumers can protect personal information from advertisers, Internet firms, employers and other businesses. But the country is not going to get it from Mr. Obama. The bill his administration recently offered will do little to help individuals while giving companies great leeway in determining how they collect, use and share personal data.

Americans are increasingly worried about their privacy. About 91 percent of those surveyed by the Pew Research Center last year said they felt people had lost control of how personal information is collected and used by companies. Mr. Obama has been aware of those concerns for some time. In 2012, he called for a privacy bill of rights that included lots of admirable ideas. He said individuals should have the right to “reasonable limits” on the collection of personal data by businesses, and that people should be able to see and correct information that companies have collected about them.

The draft bill released by the White House on Friday only vaguely reflects those ideas and is riddled with loopholes. It seems tailored to benefit Internet firms like Google and Facebook and little-known data brokers like Acxiom that have amassed detailed profiles of individuals. For good reason, many privacy groups and some Democratic lawmakers have criticized the draft.

Under the bill, companies would be allowed to create their own codes of conduct governing how they collect, use and share personal information. The Federal Trade Commission would have to approve those codes, but the legislation would make it hard for the regulator to reject weak ones. Companies would be required to notify individuals about the information they are collecting. But they would not have to get permission first.