S 3692
Preventing the Algorithmic Facilitation of Rental Housing Cartels Act of 2024
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act of 2024, aims to stop the use of computer systems and algorithms that could be used to manipulate rental prices or limit the availability of housing. It defines key terms like ‘coordinating function’ and ‘consciously parallel pricing coordination,’ and establishes that using these systems to artificially control rental markets is illegal. The bill empowers the Federal Trade Commission and state attorneys general to investigate and prosecute violations, allowing for significant financial penalties and legal action.
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