The FTC has introduced a new regulatory rule aimed at enhancing pricing transparency in live events and short-term rentals, effective May 12. This will target deceptive practices like hidden fees, requiring businesses to present total prices clearly and prominently. It applies to ticket sellers, hotels, and platforms like Airbnb. The rule prohibits vague fee descriptions and misrepresentation but still allows dynamic pricing if transparent. Detailed guidelines in the FTC FAQ further aid compliance by outlining acceptable and excluded fees.
The FTC's new rule will impact live event ticket sellers and short-term lodging providers by prohibiting hidden fees and ensuring transparent pricing.
The total price for live events and lodging must be clearly displayed upfront, with no misrepresentations about fees, according to the FTC.
Sites must avoid vague terms like 'convenience fees' and disclose total costs, thus enhancing transparency for consumers.
Dynamic pricing strategies are permitted under the new rule as long as they do not mislead consumers about pricing.
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