Federal Trade Commission FY94 Authorization bill

Federal Trade Commission Act Amendments of 1993 - Amends the Federal Trade Commission Act to deny authority to the Federal Trade Commission (FTC) to: (1) find a method of competition unfair (in any action under the Sherman Act) if such method of competition would be held to constitute State action; and (2) study, investigate, or prosecute agricultural cooperatives for any action not in violation of antitrust Acts or to study or investigate agricultural marketing orders.

(Sec. 4) Repeals the authority of the FTC to pay attorney fees, expert witness fees, and other costs of participating in a rulemaking proceeding.

(Sec. 5) Prohibits the FTC from instituting a civil action, in cases involving consent orders, to obtain civil penalties for unfair or deceptive acts or practices.

Permits: (1) a district court to review certain FTC determinations of law which found an act or practice unfair or deceptive; (2) the FTC to issue a notice of proposed rulemaking for certain rules only where it has reason to believe that the unfair or deceptive acts or practices are prevalent; and (3) the FTC to issue civil investigative demands for physical evidence.

(Sec. 7) Revises the effective dates for cease and desist orders issued by the FTC.

(Sec. 10) Requires that an unfair act or practice be likely to cause substantial injury to consumers which is not reasonably avoidable by consumers themselves and not outweighed by countervailing benefits to consumers or to competition.

(Sec. 11) Denies the FTC authority to initiate any new rulemaking proceeding which results in a rule prohibiting commercial advertising on the basis that such advertising constitutes an unfair act or practice in or affecting commerce.

(Sec. 12) Authorizes the court to: (1) summon any person, partnership, or corporation without regard to whether they reside or transact business in the district in which the suit is brought; and (2) serve process in any district. Specifies requirements for the service of process.

(Sec. 13) Directs the FTC to submit semiannual reports in FY 1994 through 1996 to specified congressional committees on instances in which resale price maintenance or predatory pricing practices have been suspected or alleged.

(Sec. 15) Prohibits the FTC from using any funds which are authorized to be appropriated to carry out the Act for FY 1994 through 1996 for the purpose of submitting statements to, appearing before, or intervening in the proceedings of, any Federal or State agency or legislative body concerning proposed rules or legislation that the agency or legislative body is considering without notifying specified congressional committees as soon as possible.

(Sec. 16) Directs the FTC to: (1) conduct an evaluation of the level of its personnel resources and the manner in which such resources are allocated; and (2) review its statutory responsibilities to identify matters within its jurisdiction where Federal enforcement is particularly necessary or desirable and those areas that might more effectively be enforced at the State or local level.

(Sec. 18) Prohibits: (1) a credit repair organization from charging or receiving any money or other valuable consideration prior to completion of the services that such organization has agreed to perform for the consumer; and (2) a loan broker from receiving an advance fee in connection with arranging or attempting to arrange, offering to find for any individual, or advising any individual as to how to obtain, consumer credit, and making false or misleading representations or omitting any material fact in the offer or sale of such broker's services, or engaging in any act that operates as fraud or deception in connection with the offer or sale of such services.

Specifies that any violation of such prohibitions shall be treated as a violation of a rule of the FTC issued pursuant to the Act and subject to FTC enforcement and penalty provisions applicable to violations of such rules.

Sets criminal penalties for violations.

(Sec. 19) Authorizes appropriations.