FTC Probes Hidden Prices Based on Personal Data

Imagine paying more for goods simply because of the phone you hold. Federal regulators want to know if stores charge you extra based on your private habits.

The Federal Trade Commission ordered nine large firms to hand over their pricing records. The target list includes giants like Uber and Walmart. Officials call this tactic surveillance pricing.

Companies collect vast amounts of digital data on everyday shoppers. They track your location and online search habits. Secret computer programs can raise prices on an item for each shopper.

Officials want clear rules that protect your wallet. Open prices give shoppers the power to compare costs and find honest deals.

Source: Fox Business