FTC Investigates Companies Over Secret Price Hikes
Federal officials want to know if big companies change prices based on your personal data.
Imagine two people looking at the exact same item online. One person sees a higher price tag. This happens because software tracks their habits and raises the cost. Federal regulators want to uncover the truth about this practice.
The Federal Trade Commission sent formal orders to nine major corporations. The list includes Uber and Walmart. Officials want to understand how these businesses use surveillance pricing against everyday shoppers.
Firms collect large amounts of private details about you. They track your home location, your income, and your browsing history. Regulators worry that companies use this data to squeeze more cash out of your pocket.
Shoppers deserve fair and open prices. Clear rules will help keep your hard-earned money in your bank account.
Source: Fox Business
More from Personal Finance
