The SLASH Prices Act requires businesses to disclose when they use personalized algorithmic pricing to charge different prices to different customers based on their personal data. Companies must display a clear written notice stating "This price was set by an algorithm using your personal data" at the point of sale and must provide customers with an easy way to opt out of algorithmic pricing without penalty, discrimination, or price increases. The law applies to most online and in-person retailers but exempts insurance, credit products, dynamic pricing based on real-time market conditions, and broad discount programs for groups like seniors or military members. The Federal Trade Commission will enforce the law as an unfair or deceptive practice, and state attorneys general can also bring civil lawsuits on behalf of consumers, with the act taking effect one year after it becomes law.
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