FTC Investigates Secret Price Hikes Based on Your Data
The FTC wants to know if big companies track your personal habits to raise your prices.
You and your neighbor might see two different prices for the exact same item online. Federal regulators want to find out why.
The Federal Trade Commission opened an inquiry into nine major companies. The list includes big names like Walmart, Uber, and Delta. Regulators ordered these firms to show how they use personal data to set individual prices.
This practice goes by the name surveillance pricing. Companies collect details about your location, your credit history, and your browsing habits. Then, smart computer programs guess the highest price you will pay.
Regulators want to protect shoppers from unfair digital price tags. Until rules change, check prices on a different phone or computer to find the best deal.
Source: Fox Business
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