Summary
A new law in New York requires businesses to disclose when they use personal data to set different prices for customers. This law aims to protect consumers from personalized pricing where customers might pay more based on their shopping habits. Some consumers' rights groups think the law might not provide enough protection, while businesses argue the law is too complicated.
Key Facts
- New York introduced a law requiring businesses to disclose personalized pricing.
- Personalized pricing means prices can change based on a customer's shopping habits.
- Lina Khan, part of NYC Mayor-elect Zohran Mamdani's team, supports the law.
- NYC Mayor-elect Zohran Mamdani was elected with a majority and met with President Trump.
- The National Retail Federation filed a lawsuit against the personalized pricing law.
- A federal judge allowed the personalized pricing law to proceed despite opposition.
- A report from the Federal Trade Commission highlighted concerns over personalized pricing.
- The extent of personalized pricing used by large companies is not clear.
