The data would instead be stored by the phone companies themselves, and could be accessed by intelligence agencies only after approval of the secret "Foreign Intelligence Surveillance Act court.
They mean the same FISA court that has been rubber stamping every request put before it since the court was created?
This is nothing more than moving the stored data from the government to the telcos. The ability of the government to troll your data has not been lessened in the least.
More lip service... still no privacy. Typical Washington tone deafness.