Nine major U.S. companies will be required to submit their pricing information to the FTC for further study.
The Federal Trade Commission (FTC) has ordered nine major airlines, ride-sharing companies, and food-delivery firms to supply detailed information on their pricing models. Delta, United, JetBlue, Lyft, Uber, DoorDash, Instacart, Target, and Walmart must turn over information as part of the FTC’s study on how personal data is being used to set prices and compensation rates. The agency gave the companies 45 days to respond before compelling compliance in federal court.
Chairman Andrew Ferguson stated that the FTC intends “to scrutinize the opaque methodology that some companies in these industries may be using to determine how much consumers pay or how much gig workers are paid for the same product or service. Consumers deserve to know whether companies use their web surfing habits or other personal data to estimate the highest price they can charge each consumer. Workers also deserve to know if their compensation is affected by how companies use their personal data.”
As the Lord Leads, Pray with Us…
- For Chairman Ferguson as he leads the FTC and its review of personalized pricing and compensation practices.
- For officials in the president’s administration as they seek to ensure fair business practices in the U.S.
Sources: Federal Trade Commission, UPI News
