‘Shocking’ report reveals how ‘peoples private data is being used to set the prices they pay’

Federal Trade Commission Chair Lina Khan announced that the FTC released its findings from a study on “how companies track consumer behaviors to inform surveillance pricing.””Last summer @FTC launched an inquiry into whether people’s private data is being used to set the prices they pay & whether firms are charging different people different prices for the same good or service,” Khan wrote via X. “Today @FTC published initial findings,” she added, including a link to the report. Max Fisher, co-host of the Crooked Media podcasts “Offline” and “How We Got Here,” replied, “Jesus. FTC finds companies are exploiting your data – browsing history, location, buying patterns, even ‘mouse movements on a webpage’ – to gouge you with higher prices shown specifically to you. Just shocking.”READ MORE: ‘Raking in billions’: report shows Drug middlemen jack up prices by nearly 8,000%The FTC’s report also noted: The staff perspective found that some 6(b) respondents can determine individualized and different pricing and discounts based on granular consumer data, like a cosmetics company targeting promotions to specific skin types and skin tones. The perspective also found that the intermediaries the FTC examined can show higher priced products based on consumers’ search and purchase activity. As one hypothetical outlined, a consumer who is profiled as a new parent may intentionally be shown higher priced baby thermometers on the first page of their search results.”Should go without saying that charging higher prices based on ‘skin tone’ is not what you want to do,” former George Washington Law Professor Rob Freund wrote via X.READ MORE: ‘A gift to the oligarchs’: Trump pick vowed to end ‘war on mergers’

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