Groups Oppose House Amendment on Fraudulent Pyramid Schemes

Publish Date: 
July 18, 2017
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NACA joined other consumer organizations to express strong opposition to an amendment offered by Congressman Moolenaar that was included in the FY18 Financial Services and General Government Appropriations bill. This amendment, based on the “Anti-Pyramid Scheme Promotion Act of 2016,” would rob the Federal Trade Commission (“FTC”) of its ability to protect consumers from all but the most egregiously fraudulent pyramid schemes.