On Wednesday, the chairmen of the House and Senate Judiciary Committees sent letters to consulting firms EAB and Ruffalo Noel Levitz, as well as the College Board, Oracle (ORCL), and Ellucian, requesting details about tuition pricing algorithms and the applicant data used to power them. The letters, signed by Representatives Jim Jordan and Scott Fitzgerald and Senators Charles Grassley and Mike Lee, warned that “Colleges that agree to use a common pricing formula or algorithm, or knowingly do so through a third-party company, are likely violating antitrust laws.” Lawmakers are asking the companies to provide descriptions of their products and services, explanations of the purpose and function of any pricing or financial aid algorithms, the types of data used to train them, and the list of higher education institutions that rely on each product or service.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORCL:
- Top Analysts Split on CoreWeave’s (CRWV) Outlook despite $14B Meta Deal
- Mixed options sentiment in Oracle with shares down 0.82%
- Spotify (SPOT) Founder Daniel Ek Steps Down as CEO, Names Co-CEOs
- Oracle Stock (ORCL) Bulls Eye Upside as ‘Quant Signal’ Pops Up in Options Market
- Nvidia price target raised to $220 from $205 at Jefferies