Telemarketing Fraud Prevention Act of 1988

(Measure passed House, amended)

Telemarketing Fraud Prevention Act of 1988 - Amends the Federal Trade Commission Act to direct the Federal Trade Commission (FTC) to promulgate rules to govern telemarketing activities. Enumerates features the FTC should consider incorporating in these rules, including provisions for refunds for untimely delivery of products or services, order cancellations, time restrictions in connection with unsolicited sales calls, and recordkeeping requirements. Declares that rule violators shall be considered to have engaged in an unfair or deceptive trade practice.

Prohibits telemarketing conduct whose natural consequence is to harass, oppress, or abuse, and considers violators to have engaged in an unfair or deceptive trade practice.

Authorizes both citizen suits (amount in controversy must exceed $10,000) and civil actions on behalf of a State for relief against entities engaging in telemarketing fraud or dishonest acts or practices. Prescribes the general framework to govern such suits.

Directs the FTC to: (1) establish a clearinghouse for inquiries made to Federal agencies concerning telemarketing; and (2) study and report to specified congressional committees, within 12 months of this Act's enactment, on telemarketing telephone calls generated by computers.