New York Bans Algorithm-Based Rent Setting
A new bill signed into law by Governor Hochul prohibits landlords from using algorithm software to set rents in New York.
The Council of Economic Advisors estimates that price-fixing algorithms cost renters $3.8 billion more in inflated rents nationwide in 2023.
- The legislation updates the state's antitrust laws to include algorithmic software.
- The U.S Department of Justice filed a lawsuit against RealPage, a company using algorithms to analyze rental data and provide price recommendations.
A win for every New Yorker who is struggling to make ends meet - Assemblymember Linda B.
Author's note: New York protects renters from inflated algorithm-based rents.
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