The FTC is sending $5.6 million in refunds to Ring customers as part of video privacy settlement.
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00:00I'm Caroline Woods reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:05Stocks are coming off a losing session on Wall Street.
00:08On concerns, interest rates will stay higher for longer.
00:11Investors are reacting to the Fed's preferred inflation gauge.
00:14The Personal Consumption Expenditures Index showed inflation rose 2.8 percent in March,
00:20just above analysts' expectations of a 2.7 percent gain.
00:24This is the final data on inflation before the Federal Reserve makes its next decision
00:28on interest rates on May 1st.
00:31And in other news, if you own a Ring camera, you may be entitled to compensation.
00:35The Federal Trade Commission is sending $5.6 million in refunds to Ring customers after
00:41alleged privacy violations.
00:43In 2023, the FTC accused the doorbell company of allowing its employees and contractors
00:48to access people's private footage without consent.
00:52Ring claimed it used the footage to train its algorithm.
00:55As a result of the settlement, Ring was forced to pay a hefty fine and delete all unauthorized
01:00footage.
01:01You are eligible for the refund if you owned the stick-up or indoor camera models before
01:05February 1st, 2018.
01:08In total, the FTC is sending over 117,000 PayPal payments to customers who had certain
01:14models of Ring cameras.
01:16That'll do it for your daily briefing from the New York Stock Exchange.
01:19I'm Caroline Woods with the Street.
01:25Thanks for watching.