Key facts
- New York lawmakers passed the One Fair Price Act.
- The bill prohibits businesses from setting individualized prices based on personal data.
- It bans pricing based on data traceable to a person or their device.
- Exceptions exist for certain discounts and mandatory disclosure of dynamic pricing.
- The bill awaits Governor Kathy Hochul's review.
New York state lawmakers have passed the One Fair Price Act, a bill that would prohibit businesses from setting individualized prices for consumers based on their personal data. If signed into law by Governor Kathy Hochul, the legislation would ban companies from adjusting prices based on data traceable to an individual or their device, such as browsing history, income, and real-time location. The bill includes exceptions for certain types of discounts, including those for specific groups like seniors and teachers, and discounts offered through loyalty programs. Additionally, companies would be required to disclose when they are using dynamic pricing, where prices fluctuate automatically based on an algorithm. New York would be the third state to prohibit this practice, with a policy analyst from Consumer Reports noting that while the bill improves upon similar legislation in Maryland and Connecticut, it still has flaws that the legislature may address in the future. Governor Hochul is likely to face corporate lobbying efforts aimed at weakening the bill.