FTC Investigates Personalized Price Hikes by Big Brands
The Federal Trade Commission wants to know if major brands use your private data to charge higher prices.
Imagine paying more for a flight simply because of your location. Federal officials want to know if companies change prices based on your personal habits. Regulators call this practice surveillance pricing.
The Federal Trade Commission sent orders to nine big firms. The group includes Delta and Uber. Officials demand clear answers about how these brands track shoppers.
Many apps record your web history and location. Secret formulas then predict the highest price you will pay. The government wants to see how these automated systems work.
Clear pricing keeps more money in your bank account. This inquiry may help shoppers get equal prices across the country.
Source: Fox Business
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