Home Depot to pay nearly $2M penalty for allegedly overcharging customers

Home Depot is forking nearly $2 million to settle a civil claim in California after district attorneys accused the retail giant of overcharging customers. According to Los Angeles County District Attorney George Gascón, Home Depot allegedly engaged in “false advertising and unfair competition” by charging shoppers prices higher than advertised or posted in stores. Essentially, some prices didn’t match what was scanned at the register, leading to a “scanner violation.”

Gascón stressed that such practices hurt consumers and give shady advantages to businesses that don’t play by the rules. Honest companies can lose out when customers pay more than they should. Under the court order from late August, Home Depot is now prohibited from overcharging customers or using misleading advertising tactics.

Though the company didn’t admit to any wrongdoing, it’s implementing a new price accuracy program. The program includes more audits, employee training, and rules to prevent weekend price hikes when customers typically swarm stores for home projects. They also updated how and when price changes happen, aiming to give customers a fair and consistent experience every day of the week.

Home Depot’s payout includes $1.7 million in penalties and over $277,000 to cover costs and restitution. The company told FOX Business that its new system will keep prices transparent and aligned across the board, aiming to dodge these issues in the future……… [read more]

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How might incidents like this affect consumer trust, and what could the ripple effects be for Home Depot’s relationship with its investors and shareholders?

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