FTC Investigates Big Brands for Secret Price Changes
The Federal Trade Commission wants to know if major companies change prices based on your personal data.
You browse online for shoes or book a flight home. The price on your screen might look different from the price your neighbor sees. Now, federal regulators want answers.
The Federal Trade Commission sent orders to nine large corporations this week. The list includes massive brands like Walmart and Uber. Officials demand to see how these firms track your habits and income to set prices.
Regulators call this practice surveillance pricing. Companies gather details about your location and your phone. Software then guesses the highest amount you are willing to pay.
This new inquiry helps protect your family budget. Compare prices on different screens before you buy. Clear information keeps the market fair for honest shoppers.
Source: Fox Business
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