12:00 PM EDT, 07/23/2024 (MT Newswires) -- (Adds new information throughout, requests for comment from companies in fourth paragraph).

JPMorgan Chase ( JPM ) , Mastercard ( MA ) and Accenture ( ACN ) are among eight companies ordered by the Federal Trade Commission to provide information about the potential impact of surveillance pricing products and services on consumer privacy and protections as well as competition.

The FTC said its information requests are aimed at helping the agency better understand the market where third-party intermediaries claim to use advanced algorithms, artificial intelligence and other technologies to analyze data collected through third-party sources to assess consumer behaviors and set pricing offered to individuals.

"Firms could be exploiting this vast trove of personal information to charge people higher prices," said FTC Chair Lina Khan said in a statement on Tuesday, later adding that "Americans deserve to know whether businesses are using detailed consumer data to deploy surveillance pricing.

A spokesperson at Mastercard ( MA ) Tuesday said the payments processor declined to comment specifically on the FTC order but said the company was cooperating with the agency at this time. A JPMorgan ( JPM ) spokesperson also said the financial services company is reviewing the FTC request, while Accenture ( ACN ) did not immediately respond to a request from MT Newswires seeking comment on Tuesday morning.

The FTC also sent information requests to privately held Task Software, Revionics, PROS and Bloomreach, all of which sell ecommerce analytics or price-optimization tools for retailers, in addition to business and technology consultants McKinsey & Co.

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