A bill to prohibit the receipt of advance fees by unregulated loan brokers.
Advance Fee Loan Scam Prevention Act of 1993 - 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.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S1045)
Read twice and referred to the Committee on Banking.
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