CISPA will allow private sector firms to search personal and sensitive user data of ordinary U.S. residents to identify "threat information," which can then be shared with other opt-in firms and the U.S. government — without the need for a court-ordered warrant.
This means a company like Facebook, Twitter, Google, or any other technology or telecoms company, including your cell service provider, would be legally able to hand over vast amounts of data to the U.S. government and its law enforcement — for whatever purpose it deems necessary — and face no legal reprisals.
And despite numerous amendments and changes, there are no requirements that personal data, such as health records or banking information, should be anonymized before sharing it with the government.