Latest news with #consumerdata
Yahoo
05-07-2025
- Business
- Yahoo
NRF challenges incoming New York algorithmic pricing law
The 'New York Algorithmic Pricing Disclosure Act' is part of the state's budget bill signed by Governor Kathy Hochul on 9 May and will be effective 8 July. The act mandates retailers to announce next to each product affected that its price was determined from the customer's personal data. Attorney General Letitia James, defendant, is responsible for enforcing the act. The enforcement process begins with the Attorney General issuing a cease-and-desist letter that outlines the supposed infractions. If the recipient fails to address these issues within a timeframe determined by the Attorney General, she can pursue an injunction and impose fines up to $1,000 for each violation. Consequently, if a business displays a single product to 1,000 customers without providing the mandated disclosure, it could face potential penalties totalling $1m, says NRF. In the lawsuit, filed in the US District Court in Manhattan, the retail group argues that retailers employ algorithmic pricing strategies to offer cost savings and tailored promotions to consumers by analysing data such as purchase history, cart contents, zip code, and other 'voluntarily' provided information. It contends that this practice benefits customers financially and should not be portrayed negatively through mandated disclosures. 'This law interferes with retailers' ability to provide their customers with the highest value and best shopping experience they can,' says Stephanie Martz, NRF chief administrative officer and general counsel. 'Algorithms are created by humans, not computers, and they are an extension of what retailers have done for decades, if not centuries, to use what they know about their customers to serve them better. It's just done at the scale of the modern economy. Stigmatising tools that drive prices down turns offering deals into a liability, and consumers will end up paying more." NRF claims the law was passed in 'less than two months after its introduction' with minimal debate and suggests that the act lacks a factual basis for the assertion that algorithmic pricing misleads or harms consumers. According to the challenge, the law seems to stem from 'a speculative fear' that retailers might exploit sensitive data for discriminatory pricing or price gouging —actions already illegal under existing laws. Furthermore, the act 'arbitrarily' exempts certain sectors of the economy without rationale. Consequently, it forces a subset of retailers to communicate a 'misleading and controverted government-scripted opinion', all without sufficient reason, said NRF. 'Algorithmic pricing mechanisms lower overall consumers prices in the aggregate,' the suit said. The NRF lawsuit requests the court to declare that the law infringes upon the First and 14th Amendments. It requests that the court issue both 'preliminary and permanent injunctions' to prevent the law's enforcement. In April, the organisation forecasted that retail sales will grow by 2.7% to 3.7% in 2025, surpassing the revenue numbers from 2024, despite economic uncertainties. "NRF challenges incoming New York algorithmic pricing law" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Washington Post
03-07-2025
- Business
- Washington Post
Why hosting a July Fourth pool party may cost less this year
NEW YORK — Americans have one more reason to celebrate this Fourth of July : getting all the gear needed to host a pool party costs less than it has in years, according to a market research company's preliminary data. The total price to buy beach towels, a beverage cooler, bathing suits and other accountrements of summer fun averaged $858 in June, the lowest amount for the month since 2020, consumer data provider Numerator said in an analysis prepared for The Associated Press.
Reuters
18-06-2025
- Business
- Reuters
NAB pays over $488,800 penalty over breaches of consumer data rights rules
June 19 (Reuters) - Australia's competition watchdog said on Thursday that National Australia Bank ( opens new tab has paid A$751,200 ($488,806) fine over alleged breaches of consumer data right rules due to failures to disclose credit limit data. ($1 = 1.5368 Australian dollars)
CBS News
11-06-2025
- Business
- CBS News
Pa. Attorney General Dave Sunday joins lawsuit to block 23andMe's sale of data
On Wednesday morning, Pennsylvania Attorney General Dave Sunday announced that his office would be joining a multi-state lawsuit to block 23andMe's sale of consumer data. The sale comes after the genetic-testing company filed for bankruptcy earlier this year. "The millions of consumers, including many Pennsylvanians, who paid for these services certainly did not expect their sensitive data to one day be sold off to the highest bidder," Attorney General Sunday said. "23andMe is trying to avoid its legal obligations to consumers simply by labeling this sale and transfer of consumer data as a 'change of ownership.' I continue to encourage 23andMe customers to consider deleting their data from the company's database." The lawsuit is seeking to object to the bankruptcy sale of personal, genetic information that was compiled by the company from consumers who used the service to learn more about their family history. They're arguing that biological samples, DNA data, health-related information, and medical records are too sensitive to be sold without the consumer's consent. Pennsylvanians who used 23andMe can file a proof of claim at this link. Pennsylvania joins Arizona, Colorado, Connecticut, the District of Columbia, Florida, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, New Hampshire, New Mexico, New York, North Carolina, Oklahoma, Oregon, South Carolina, South Dakota, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin in this lawsuit. How can I delete my data from 23andMe? As the company awaits its bankruptcy case, which is set for next month, it has many users of the service asking how they can delete their accounts as well as their data. "If, at any time, you are no longer interested in participating in our Services, you may delete your 23andMe account directly within your Account Settings," the company states on its website. While, like most online accounts, deleting your data is a fairly simple process, since declaring bankruptcy, some consumers reported not being able to access their accounts. Other users found themselves waiting hours for a required two-step authentication verification code to delete their accounts, which they say they never received. The company said the issues had been resolved by Tuesday and encouraged anyone having trouble accessing their account or deleting their data to visit its customer care site for help. Deleting your data and account can be done in seven steps, which you can read below. Log in to your account Go to "settings" Scroll to "23andMe data" Click "view" Scroll to "delete data" Click "permanently delete data" Confirm your request Note that you may also download a copy of your genetic data before deleting it from 23andMe's database.
Bloomberg
17-05-2025
- Business
- Bloomberg
Midpoint of Trump Tariff Hiatus to Reveal Increasingly Unsettled World
Reports in the coming week may give the fullest reading to date of how major economies are faring with trade disruptions, halfway through President Donald Trump's 90-day hiatus on so-called reciprocal tariffs. Chinese consumer and industry data on Monday will be followed by purchasing manager indexes on Thursday from around the world, pointing to the growth impact from the policy of widespread US levies — unveiled by Trump on April 2, then put on hold on April 9.
