Cecilia L. Gardner, president, CEO and general counsel of the Jewelers
Vigilance Committee, has been invited to testify before the United States House
of Representatives, Committee on Energy and Commerce, on the “Guarantee of
a Legitimate Deal Act of 2009.”
The bill would require certain return policies from businesses that purchase
precious metals from consumers and solicit such transactions through an
Internet website. The legislation would make it illegal for a gold company to
melt or destroy jewelry or precious metals before the consumer signed off on
it. The gold buying company also would have to return the jewelry promptly and
adequately insure the gold jewelry when returning it to the consumer following
a rejected offer.
provide JVC’s experience with on-line gold buying businesses and consumer
complaints in the jewelry industry in support of the legislation.
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