Consumer Product Safety Modernization Act of 2007

Consumer Product Safety Modernization Act of 2007 - Amends the Consumer Product Safety Act to authorize appropriations through FY2012 to carry out the Act.

Repeals the Consumer Product Safety Commission (CPSC) quorum requirement for the transaction of business.

Decreases the period of advance notice the CPSC must, in some circumstances, provide a manufacturer or private labeler before disclosing to the public information obtained under the Act. Allows disclosure without advance notice to a manufacturer or private labeler if the CPSC makes an affirmative determination that: (1) disclosure is necessary to prevent an unreasonable risk to health and safety; and (2) the manufacturer or private labeler is not cooperating with the Commission.

Sets a minimum for the penalty imposed on manufacturer, distributor, or retailer which knowingly fails to comply with a recall order.

Increases from $1.25 million to $20 million the maximum civil penalty that may be imposed under the Act for any related series of prohibited acts.