FTC Investigates Secret Price Hikes Based on Personal Data
The FTC wants to know if major brands use your personal data to change the prices you pay.
Two shoppers can look at the exact same item online and see two different prices. Federal regulators want to know if companies set these prices based on private details about your life.
The Federal Trade Commission ordered nine major companies to hand over their pricing records. The list includes Delta, Uber and Walmart. The agency calls this practice surveillance pricing.
Regulators suspect computer programs track your location and spending habits. The software can quietly raise prices for shoppers who seem willing to pay more. Officials want to see how these secret systems affect everyday families.
You can protect your wallet while this review continues. Clear your web browser cookies or check prices on a second device. Smart shoppers compare costs across different stores to find the best deal.
Source: Fox Business
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