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New York City Is Set to Ban Companies From Setting Variable Prices
The New York Times • • business
Key Points:
- The New York City Council is set to approve a bill banning surveillance pricing, a practice where algorithms set different prices for customers based on personal data such as spending habits and demographics.
- The bill, sponsored by Council Speaker Julie Menin, has strong support and follows similar bans passed in Albany, Connecticut, Maryland, New Jersey, and Seattle.
- Surveillance pricing is primarily used online, but the ban would cover all forms of the practice, with retailers facing fines of $1,000 per violation and small businesses allowed to appeal.
- Menin criticized surveillance pricing as unethical and harmful to affordability, emphasizing the city's commitment to consumer protection and fighting predatory corporate tactics.
