BLUMENTHAL SPONSORS LEGISLATION TO CRACK DOWN ON PRICE FIXING ALGORITHMS THAT HELP PREDATORY LANDLORDS RAISE RENTS
[HARTFORD, CT] – U.S. Senator Richard Blumenthal (D-CT) joined Senate colleagues in introducing two new bills that would ban predatory practices by landlords who use pricing algorithms to avoid competition and raise rents. Senator Blumenthal is a cosponsor of both the Preventing Algorithmic Collusion Act, which would prevent companies from using algorithms to collude to set higher prices, and the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act, which would crack down on companies that help landlords increase rents in already high-priced markets. “This practice affects housing throughout Connecticut. This kind of conscious collusion ought to be stopped. It is inflating rents for the ordinary person who goes to the landlord and is given a price that is based on an…
