FTC Investigates Secret Price Hikes Based on User Data
The FTC wants to know if top brands charge you higher prices based on your personal data.
Two shoppers can look at the same flight or taxi ride and see different costs. Federal regulators want to know why. They suspect big firms track personal habits to charge you more.
The Federal Trade Commission launched an inquiry this week. The agency sent official orders to nine major corporations. These targets include household names like Uber and Walmart. Regulators demand clear answers about surveillance pricing. This practice uses your location and income estimates to set unique rates.
Software tracks personal details every day. Algorithms can study your phone battery level or your browsing history to guess your budget. Then the computer can raise the price right before you pay.
Smart shopping habits protect your household budget. Compare costs across several devices before checking out. A quick price check keeps cash in your wallet when computer models push costs higher.
Source: Fox Business
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