New York state lawmakers on Thursday passed a ban on businesses setting individualized prices for consumers based on their personal data, in the strongest move yet by a state against the practice.
• If New York Governor Kathy Hochul signs it into law, the One Fair Price Act would prohibit companies from setting prices based on data that could be traced to a person or their device, such as browsing history, income and real-time location.
• Discounts for seniors, teachers and other specific groups, as well as discounts offered through loyalty programs, would still be allowed.
• Companies would also have to disclose when they are using prices that fluctuate automatically based on an algorithm, also called “dynamic pricing.”…