INFORM Consumers Act

The Act requires online marketplaces to collect and verify bank account information, contact information, and tax ID information from high-volume third party sellers that sell consumer products through those online marketplaces’ platforms, and to disclose to consumers identifying information for certain high-volume third party sellers, subject to exceptions. The Act also requires online marketplaces to protect data collected to comply with the Act, to suspend high-volume third party sellers who do not provide required information or who provide false information, and to provide consumers with a mechanism to report suspicious marketplace activity to the online marketplace.