Hearing Set for ‘Cash for Gold’ Business Practices

Cash 4 Gold, the company that gave the bankrupted ’90s icon MC Hammer work recently and inspired Consumerist to do their first full-length investigative piece is the subject tomorrow of a congressional hearing by Rep. Anthony Weiner of New York.

The notice of the hearing is pasted in full after the jump.

Scams by “Cash 4 Gold” to be Explored

Washington, DC – In response to an investigation conducted by Rep. Anthony Weiner (D – Brooklyn and Queens) into the deceitful business practices of mail-order gold dealers like “Cash 4 Gold”, the House subcommittee on Commerce, Trade and Consumer Protection will hold a congressional hearing on Weiner’s legislation, H.R. 4501, also known as the “Guarantee of a Legitimate Deal Act.” The investigation from Weiner’s office found that Cash4Gold paid out pennies on the dollar for gold and had a deceptive return policy.

WHO: Representative Anthony Weiner (D-Brooklyn and Queens)

James A. Kohm, Associate Director, Bureau of Consumer Protection, FTC

Charles Bell, Programs Director, Consumers Union

Cecilia L. Gardner, Esq., Chief Executive Officer, Jewelers Vigilance Committee

WHAT: Hearing on Weiner Legislation to Regulate Deceitful Mail-Order Gold Buyers

WHERE: 2322 Rayburn House Office Building, Washington, D.C.

WHEN: 1:00 p.m. Thursday, May 13