you know, frank poindexter is not alone.e is joining that lawsuit against cash for gold which alleges among other things that the company sometimes melts down the gold before the 12-day return period has ended and sometimes blames the post office for losing items in the mail. >> the class action is meritless. there are three main complainants on the class action suit -- three. >> after numerous complaints about several companies, new york democrat anthony weiner introduced the gold act, pushing for more stringent regulation of the industry on a national scale. >> basically when you put that gold in that envelope, you're sending it off to the wild west. >> now, if that gold act becomes law, it would require consumers accept the offer before their gold is melted down and if they don't do that, then companies would get fined. it would also mandate that companies ensuinsure any jewelr they return to customers for the same value the customer insured it when they mailed it in. right now in florida where we were there are stricter

frank poindexter's not alone. joining that lawsuit against catch4gold which alleges among other things that the company sometimes melts down the gold before the 12-day return period has ended. >>> and sometimes blames the post office for losing things in the mail. >> there were three named complaintants on the class action suit. three. >> reporter: attorneys on the case won't say how much they're seeking in damages. but under a new federal law, all mail in companies must photograph every item they receive. but it is too late for frank poindexter. after numerous complaints about several companies, new york

frank poindexter is not alone. he's join that lawsuit against cash 4 gold which alleges that the company sometimes melts down the gold before the 12-day return period has ended and sometimes blames the post office for losing items in the mail. >> the class action is -- is meritless. there are three main complainants on the class action suit, three. >> reporter: after numerous complaints about several companies, new york democrat introduced the gold act, pushing for more stringent regulation of the industry on a national scale. >> basically when you put that gold in that envelope you're sending it off to the wild west. >> ali, if that gold act becomes law, it would require consumers accept any offer before their gold is melted down. companies would be fined if they don't comply. it would also make sure that companies insure any jewelry they send back to consumers for the same have it was insured at when they sent it in. there this is a big problem. you see stricter regulations in florida but not worldwide. >> poppy,