FTC Targets Secret Price Changes Based on Your Data
The FTC wants to know if major companies use your personal data to charge you higher prices.
You might pay more than your neighbor for the exact same item. Big companies track your purchases and your internet habits. Now, the government wants to know if stores use this personal data against you.
The Federal Trade Commission ordered nine major companies to hand over their records. The target list includes retail giant Walmart and ride company Uber. Officials call this practice surveillance pricing.
Regulators want clear answers. They asked these firms how they gather personal details to set custom prices. Computer software can study your location and income. Then it can raise costs when it senses urgent demand.
Shoppers deserve honest prices. Compare totals across different phones and web browsers before you buy. Clear your browser history often to keep your costs down.
Source: Fox Business
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