California lawmakers fast-track bill that would require online sellers to verify their identity [Financial Post (Toronto, Ontario, Canada)]
eBay Inc. (EBAY)
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Source: Financial Post
SACRAMENTO, Calif. (AP) — A California bill that would require marketplaces like eBay and Nextdoor to start collecting bank accounts and tax identification numbers from high-volume sellers who advertise online but collect payments offline was fast-tracked by Democratic lawmakers with committees voting on it Tuesday. The idea is that thieves will be less likely to resell stolen merchandise if authorities can track them down. Article content The measure is part of a legislative package of 14 bills to combat retail theft in the state. The California Retailers Association has said the issue has reached crisis levels, though it's challenging to quantify because many stores don't share their data. Proponents, including district attorneys and some big box retailers, said the data collection proposal would shut down organized theft rings seeking to resell stolen goods and would close a loophole in existing laws that don't require platforms to track offline transactions. The rules u
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EBAY
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- 5/1/24 - Beat
EBAY
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- 6/21/24 - Form 4
- 6/21/24 - Form 4
- 6/21/24 - Form 8-K
- EBAY's page on the SEC website