Personalized Algorithmic Pricing Disclosure Act requires clear disclosure when prices are set using personal data.
The Personalized Algorithmic Pricing Disclosure Act mandates that any entity using personalized algorithmic pricing must clearly disclose this fact to consumers. Specifically, any advertisement, display, image, offer, or announcement of a price set by an algorithm using personal data must include the statement: "THIS PRICE WAS SET BY AN ALGORITHM USING YOUR PERSONAL DATA." The Act defines "personalized algorithmic pricing" as dynamic pricing set by an algorithm that uses personal data. Exceptions include certain financial institutions and subscription-based agreements.
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