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This bill matters because it addresses growing concerns about fairness and transparency in pricing in the digital age. Currently, many consumers worry that businesses use their online activity, demographic information, and purchase history to create personalized prices, often leading to some individuals paying more than others for the exact same product or service without knowing it. If this bill becomes law, it would ensure that most price differences are based on legitimate cost variations or publicly available discounts, rather than hidden data-driven personalization.
Without this bill, the practice of "dynamic pricing" or "individualized pricing" powered by artificial intelligence could continue to expand, potentially leading to a less equitable marketplace where personal data is used to extract the maximum possible price from each consumer. By limiting this practice, the bill aims to restore consumer trust, promote more uniform pricing, and give individuals more control over how their data influences the cost of goods and services they purchase.
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This bill matters because it addresses growing concerns about fairness and transparency in pricing in the digital age. Currently, many consumers worry that businesses use their online activity, demographic information, and purchase history to create personalized prices, often leading to some individuals paying more than others for the exact same product or service without knowing it. If this bill becomes law, it would ensure that most price differences are based on legitimate cost variations or publicly available discounts, rather than hidden data-driven personalization.
Without this bill, the practice of "dynamic pricing" or "individualized pricing" powered by artificial intelligence could continue to expand, potentially leading to a less equitable marketplace where personal data is used to extract the maximum possible price from each consumer. By limiting this practice, the bill aims to restore consumer trust, promote more uniform pricing, and give individuals more control over how their data influences the cost of goods and services they purchase.
An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)
An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)
| TYPE | AMOUNT | WHO |
|---|---|---|
| civil | Greater of actual monetary damages or $3,000 per violation. | State governments (acting as parens patriae) and individuals injured by a violation. |
| civil | Up to 3 times the base amount (actual damages or $3,000) for willful violations. | Individuals injured by a violation. |
| administrative | Penalties as provided under the Federal Trade Commission Act. | Persons engaging in surveillance-based price setting. |
| civil/equitable | Injunctions, compliance enforcement, restitution, and other legal or equitable relief as deemed just and proper by the court. | State governments and individuals. |