FTC Investigates Stores Changing Prices Based on Your Data
The FTC wants to know if major companies use your personal data to change the prices you see.
You might pay more for the same item than your neighbor. Federal regulators want to know why this happens.
The Federal Trade Commission ordered nine big companies to share their pricing secrets. The list includes Delta, Uber, and Walmart. Officials want to see if these brands use your browsing history, income, or location to hike prices.
Regulators call this practice surveillance pricing. Companies collect massive amounts of personal details every day. Then computer algorithms set custom prices for each shopper behind the scenes.
This investigation brings transparency to online shopping. You deserve a fair market where prices stay clear and open for every shopper.
Source: Fox Business
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