WASHINGTON (Reuters) - U.S. automaker General Motors ( GM ) will be banned for five years from disclosing consumers' sensitive geolocation and driver behavior data to consumer reporting agencies, the Federal Trade Commission said in a statement on Thursday.

The agency alleged General Motors ( GM ) collected, used, and sold drivers' precise geolocation data and driving behavior information from millions of vehicles, which can be used to set insurance rates, without notifying consumers and obtaining consent.

The company has settled the FTC's allegations, the regulatory agency added.