United States of America: Passed INFORM Act through the engrossed Senate version of Consolidated Appropriations Act 2023 (HR 2617)

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Description

Passed INFORM Act through the engrossed Senate version of Consolidated Appropriations Act 2023 (HR 2617)

On 22 December 2022, the Senate passed the INFORM Consumers Act by incorporating it into the Consolidated Appropriations Act 2023 (HR 2617) under Sec. 301. Collection, Verification, and Disclosure of Information by Online Marketplaces to Inform Consumers. The Act would require online marketplaces to collect and verify contact and financial information, including name, bank account number, tax ID, email and phone number of third-party sellers with over 200 sales or USD 5'000 revenue per year. Furthermore, online marketplaces must disclose the specific information of third-party sellers with over USD 20'000 in annual gross revenue. Finally, online marketplaces must provide methods for consumers to report suspicious activities. The Act would be implemented 180 days after its enactment.

Original source

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
User identification requirement
Regulated Economic Activity
platform intermediary: e-commerce
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2021-10-05
under deliberation

The Bill "To require online marketplaces to verify certain information regarding high-volume third …

2022-12-22
under deliberation

On 22 December 2022, the Senate passed the INFORM Consumers Act by incorporating it into the Consol…

2022-12-23
adopted

On 23 December 2022, the INFORM Consumers Act was adopted by the House of Representatives. The ACT …

2022-12-29
in grace period

On 29 December 2022, the INFORM Consumers Act entered into force after being signed into law by the…

2023-06-27
in force

On 27 June 2023, the INFORM Consumers Act was implemented, 180 days after it was enacted. The ACT w…