U-Haul accused of attempting price-fixing with Budget

U-Haul accused of trying to fix prices
U-Haul accused of trying to fix prices

U-Haul, the biggest retail rental truck company in the country, was accused by the Federal Trade Commission of trying to get is biggest rival -- Budget -- to collude on prices, which could have driven up costs to consumers.

The two companies together have more than 70% of the self-moving truck rental business, the FTC said. U-Haul signed an agreement, settling the allegations, that it would not discuss setting prices with its competition.

"It's a bedrock principle that you can't conspire with your competitors to fix prices – and shouldn't even try," FTC Chairman Jon Leibowitz said in a written statement. "Consumers deserve better. The order announced today will ensure that U-Haul will not try it again."