Some Ring camera owners could get a refund

The FTC is sending $5.6 million in refunds to Ring customers as part of video privacy settlement.

Transcript

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.