Telemarketing and Consumer Fraud and Abuse Prevention Act

Telemarketing and Consumer Fraud and Abuse Prevention Act - Requires the Federal Trade Commission (FTC) to prescribe rules regarding telemarketing activities and prohibiting fraudulent telemarketing acts or practices. Sets forth provisions concerning actions by States and by private persons to enforce compliance with such regulations. Provides for the establishment of a clearinghouse for inquiries made to Federal agencies concerning telemarketing.

Amends the Right to Financial Privacy Act of 1978 to permit a financial institution, upon application of a Government authority, to delay notifying a customer of the release of a customer's records if, by court order, it is found that notifying the customer will result in the dissipation or destruction of assets subject to seizure under any U.S. law by reason of having been obtained in violation of law.

Amends the Federal Trade Commission Act to authorize the FTC to bring a criminal contempt action for violations of orders obtained in false advertising cases under such Act.

Directs the FTC to conduct a study of unfair or deceptive acts or practices engaged in by life care homes.