Bill > HR7756

This bill, titled the Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act (INFORM Consumers Act), requires online marketplaces to verify and disclose certain information about high-volume third-party sellers of consumer products to inform consumers. Key provisions include: 1) online marketplaces must collect and verify information like bank account details, contact information, and tax IDs from high-volume third-party sellers within 24 hours; 2) marketplaces must disclose the seller's full name, physical address, and contact information on product listings; 3) marketplaces must provide a mechanism for consumers to report suspicious activity; and 4) the Federal Trade Commission will enforce the law as a violation of unfair or deceptive practices. The bill aims to increase transparency and accountability for high-volume third-party sellers on online marketplaces.