SB 470 Summary

• Establishes the Online Marketplace Consumer Inform Act requiring online marketplaces to verify and collect identifying information from high-volume third-party sellers (those with 200+ transactions or $5,000+ gross revenue in 24 months) within 24 hours of qualifying as high-volume sellers.

• Requires verification of bank account information, contact information including government-issued photo ID, business tax identification numbers, and disclosure of whether sellers operate exclusively on the marketplace or also sell on other websites, with verification completed within 3 days.

• Mandates high-volume third-party sellers disclose their full name, physical address, manufacturing/importing/reselling status, and working phone/email in bold print on product listings, with limited exceptions for sellers without business addresses or personal phone numbers.

• Requires online marketplaces to notify high-volume sellers annually that they must report any changes to their information within 3 days and electronically certify unchanged information, with suspension of marketplace access for non-compliance.

• Classifies violations as unfair and deceptive trade practices enforceable by the Attorney General under existing law and prohibits local governments from imposing additional verification or disclosure requirements on online marketplaces.