Three of the four largest Internet service providers in the U.S. promised to adopt policies requiring them to get meaningful permission from customers before tracking their online activities for targeted advertising purposes.

But the ISPs also took the opportunity to tell federal lawmakers at a U.S. Senate committee hearing that new legislation aimed at protecting online privacy isn't needed at this point.

"At this juncture, we aren't prepared to endorse legislation," Tauke told members of the Senate Committee on Commerce, Science & Transportation. Verizon has recruited other ISPs and online businesses to join a group focused on drafting best practices, Tauke said, adding that the group expects to draft some preliminary guidelines by year's end.

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