Consumer Groups Oppose the Moolenaar Amendment to the FSGG Appropriations Bill

Letter to House Speaker Paul Ryan and Leader Nancy Pelosi

CFA and other consumer groups oppose an amendment offered by Congressman Moolenaar that was included in the FY18 Financial Services and General Government Appropriations bill, which is currently pending before the House. 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.

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