New York City Council Passes Ban on Data-Based Personalized PricingNew York City Moves to Stop Companies Turning Personal Data Into Higher PricesNYC’s Pricing Ban Risks Tying Businesses’ Hands on Discounts
The New York City Council passed a bill on November 12 prohibiting firms from relying on shoppers’ private details and automated systems to set individualized prices. The measure allows fines of up to $1,000 per violating transaction and preserves several kinds of discounts.The City Council passed a bill on November 12 barring businesses from using consumers’ data to set individualized prices, a practice supporters say threatens fairness and affordability.The City Council passed a November 12 bill restricting data-based individualized prices, despite business concerns that the rules could limit how smaller companies reach customers with offers.