Is Your Car Selling Your Data? Senators Ask FTC To Investigate 3 Automakers Allegedly Sharing Data Without Full Disclosure
Portfolio Pulse from Hayden Buckfire
U.S. Senators Ron Wyden and Ed Markey have urged the FTC to investigate General Motors (GM), Honda, and Hyundai for allegedly sharing driver data with Verisk Analytics without full disclosure. The data, including acceleration, braking, and location information, was reportedly sold to insurance companies, potentially affecting insurance premiums. The senators claim that these automakers used manipulative design techniques to obtain consent from consumers.
July 29, 2024 | 6:23 pm
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NEGATIVE IMPACT
General Motors is under scrutiny for allegedly using manipulative design techniques to obtain consent for its Smart Driver program, which shared driver data with Verisk Analytics. The FTC investigation could lead to legal and regulatory consequences.
The allegations against GM are serious and could lead to legal and regulatory actions. This could negatively impact GM's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Honda is accused of sharing data from 97,000 cars with Verisk without obtaining informed consent from customers. The FTC investigation could result in legal and regulatory repercussions.
The allegations against Honda could lead to legal and regulatory actions, potentially impacting its stock price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Hyundai allegedly shared data from 1.7 million vehicles with Verisk without proper disclosure. The FTC investigation could lead to legal and regulatory consequences.
The allegations against Hyundai are significant and could lead to legal and regulatory actions, potentially affecting its stock price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Verisk Analytics is implicated in the data-sharing allegations involving GM, Honda, and Hyundai. The FTC investigation could lead to legal and regulatory consequences for Verisk.
Verisk Analytics' involvement in the data-sharing allegations could lead to legal and regulatory actions, potentially impacting its stock price negatively in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80