FTC Probes Secret Price Hikes Based on Personal Data
The FTC wants to know if big companies track your personal data to charge you higher prices.
Imagine paying more for a flight simply because of your location. Federal officials want to know if big firms do this right now.
The Federal Trade Commission launched an inquiry into nine large companies. The list includes brands like Walmart and Delta Air Lines. Regulators call this practice surveillance pricing. Companies collect your browsing habits to set individual price tags.
The agency wants to see the computer models behind these numbers. Officials ordered the firms to explain how data changes what you pay. They also want to see if these systems treat shoppers unfairly.
Clear rules protect your wallet when you shop online. Knowing how stores track your habits helps you keep control of your household budget.
Source: Fox Business
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