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Will the FTC conclude its investigation into surveillance pricing practices by the end of 2024?
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Official FTC announcements or press releases
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FTC Investigates Eight Companies' Use of Personal Data for 'Surveillance Pricing'
Jul 23, 2024, 01:40 PM
The U.S. Federal Trade Commission (FTC) has initiated an investigation into the practice of 'surveillance pricing,' where companies use personal data to set individualized prices for products and services. The FTC has issued orders to eight companies, including Mastercard, JPMorgan, and a unit of Goldman Sachs, seeking information on their use of algorithms that leverage consumers' personal data, such as finances and browser history, to tailor product pricing. This probe aims to understand how these companies' pricing strategies may affect consumers based on their locations, past purchases, and other personal data. The FTC is concerned that similar technology used in online advertising could now be used to set disparate prices.
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