I believe that this is the current situation in Germany and I assume other E.U. countries.
What they do have, that exceeds protection in the US, is the right for many EU citizens to request a copy of all of the information a company has on an individual, as well as, in many cases, the requirement that a company gain explicit permission before collecting or sharing personal information.
About this law: http://www.privireal.org/content/dp/poland.php