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HR 7756 116th Congress House Commerce Bank accounts, deposits, capital Business records Consumer affairs Fraud offenses and financial crimes Government information and archives Internet and video services Internet, web applications, social media Retail and wholesale trades

INFORM Consumers Act

Introduced: July 23, 2020 Introduced by: Schakowsky, Janice D. Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 23, 2020
Referred to the House Committee on Energy and Commerce.
Jul 23, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act or the INFORM Consumers Act

This bill requires online marketplaces to collect, verify, and disclose certain information from high-volume, third-party sellers.

High-volume, third-party sellers include online marketplace participants that conduct 200 or more transactions resulting in total revenues of $5,000 or more during a continuous 12-month period. Online marketplaces must acquire these sellers' (1) bank account numbers, (2) government-issued identification, (3) tax identification numbers, and (4) contact information. Online marketplaces must verify this information and annually certify changes to it.

Further, online marketplaces must make certain information (e.g., sellers' names and contact information) available to consumers through the sellers' product listings and provide consumers with methods to report electronically and by telephone any suspicious activity on the marketplace.

The bill provides the Federal Trade Commission with the authority to enforce these requirements.

What's happening now July 23, 2020

Referred to the House Committee on Energy and Commerce.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1