A bill to prohibit the receipt of advance fees by unregulated loan brokers.
Advance Fee Loan Scam Prevention Act of 1992 - Prohibits the receipt of advance fees by unregulated loan brokers arranging consumer credit for individuals.
Grants the Federal Trade Commission enforcement powers under this Act. Establishes criminal penalties and civil forfeiture penalties for violations of this Act.
Subcommittee Consideration and Mark-up Session Held.
Introduced in Senate
Read twice and referred to the Committee on Banking.
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