The agency stated it “intends to enforce the law aggressively against any deceptive or unfair personalized pricing practices that violate Section 5 of the FTC Act or any other law enforced by the Commission.“
The Federal Trade Commission (FTC) has extended public comment on the enforcement of personalized pricing to September 25. The original submission period began August 19 and ended September 18. The agency has acknowledged that personalized pricing has been common practice in some markets for years. Though commonplace in those niches, the FTC intends to protect markets that have not traditionally engaged in such pricing techniques.
The FTC explained, “Congress has not given the Commission the authority to prohibit personalized pricing in all circumstances, but the Commission intends to enforce the law aggressively against any deceptive or unfair personalized pricing practices that violate Section 5 of the FTC Act or any other law enforced by the Commission. “
The agency continued, “Where consumers reasonably expect that prices for a product or service will not vary based on their personal data, businesses that engage in personalized pricing should clearly and conspicuously disclose not just that the price is personalized, but also the basis for that personalization and the types of data on which the personalization is based.”
As the Lord Leads, Pray with Us…
- For members of the FTC as they gather input and assess feedback from the public, businesses, and other professionals.
- For Chairman Andrew Ferguson as he oversees the review process of personlized pricing across various sectors of the U.S. marketplace.
Sources: Federal Trade Commission
