CA SB295

Prohibits distributing or making recommendations using a pricing algorithm to two or more competitors if the person knows the algorithm processes confidential competitor data to set prices or commercial terms

Prohibits businesses from using pricing algorithm recommendations if they know the algorithm incorporates competitor data and is used by competitors to set prices for similar products or services in the same market

Provides an affirmative defense for users who exercised reasonable due diligence, including obtaining written assurances that the algorithm does not process competitor data

Authorizes the Attorney General, district attorneys, county counsels, or city attorneys to bring civil actions seeking restitution, punitive damages, injunctive relief, and civil penalties up to $25,000 per violation

Exempts insurers, credit scores subject to the Fair Credit Reporting Act, commercial credit reporting agency tools, and algorithms using competitor data collected more than one year prior