Guarantee of a Legitimate Deal Act of 2010

Bill: 111-hr-4501
Sponsor: Rep. Weiner, Anthony D. [D-NY-9]
Introduced: 2010-01-21 in the House
Policy area: Commerce
Subjects: Consumer affairs
Internet and video services
Internet, web applications, social media
Metals

Summary:
action_date: 2010-01-21
text: 
Guarantee of a Legitimate Deal Act of 2009 - Defines an &quot;online purchaser of precious metals&quot; as a person who is in the business of purchasing jewelry or other precious metals directly from consumers and maintains a website through which such person solicits such transactions.
 
Makes it unlawful for any online purchaser of precious metals to: (1) refine or otherwise permanently destroy an item of jewelry or precious metal before receiving an affirmative acceptance of such purchaser's offer from the consumer to whom the offer was made; (2) fail to promptly return to the consumer any jewelry or other precious metal if the consumer declines the purchase offer; or (3) fail to insure any shipment in an amount equal to either 60% of the melt value or the amount the consumer insured the shipment for.
 
Treats a violation of this Act as an unfair and deceptive act or practice under the Federal Trade Commission Act. Requires the Federal Trade Commission (FTC) to enforce this Act as though all applicable terms and provisions of that Act were incorporated into and made a part of this Act.

action_date: 2010-12-08
text: 
 Guarantee of a Legitimate Deal Act of 2010 - Prohibits any purchaser of precious metals from: (1) selling, transfering to a third party, or refining through melting or otherwise permanently destroying an item of jewelry or precious metal before the purchaser has received an affirmative acceptance of an offer to purchase the item from the consumer at a specific price; (2) failing to promptly return any jewelry or other precious metal if the consumer declines the offer; or (3) failing to adequately insure any return shipment. Exempts a sale or transfer to law enforcement agencies.
 
Deems a violation of this Act as an unfair or deceptive act or practice under the Federal Trade Commission Act. Gives the Federal Trade Commission (FTC) authority to enforce these provisions.
 
 Makes this Act effective 60 days after enactment.


Legislative actions:
action_date: 2010-12-09
text: Received in the Senate and Read twice and referred to the Committee on Commerce, Science, and Transportation.
action_date: 2010-12-08
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2010-12-08
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 324 - 81 (Roll no. 620). (text: CR H8105-8106)
action_date: 2010-12-08
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 324 - 81 (Roll no. 620).(text: CR H8105-8106)
action_date: 2010-12-08
text: Considered as unfinished business. (consideration: CR H8151)
action_date: 2010-12-08
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2010-12-08
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 4501.
action_date: 2010-12-08
text: Considered under suspension of the rules. (consideration: CR H8105-8107)
action_date: 2010-12-08
text: Mr. Weiner moved to suspend the rules and pass the bill, as amended.
action_date: 2010-12-07
text: Placed on the Union Calendar, Calendar No. 402.
action_date: 2010-12-07
text: Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 111-673.
action_date: 2010-12-07
text: Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 111-673.
action_date: 2010-07-15
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2010-07-15
text: Committee Consideration and Mark-up Session Held.
action_date: 2010-06-30
text: Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
action_date: 2010-06-30
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2010-05-13
text: Subcommittee Hearings Held.
action_date: 2010-01-22
text: Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
action_date: 2010-01-21
text: Referred to the House Committee on Energy and Commerce.
action_date: 2010-01-21
text: Introduced in House
action_date: 2010-01-21
text: Introduced in House