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Fraud Enforcement Act
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Fraud Enforcement Act
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Pros & Cons
Fraud Enforcement Act
Latest Fraud Enforcement Act Forum Posts
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massive corruption in Gov Chris Christie administration
Former Member
2/20/2012 4:35:49 AM
Former Member
2/20/2012 4:35:49 AM
0
155
Overview of Law
Enhances investigations and criminal enforcement of federal fraud laws regarding financial institutions including mortgage lending fraud and securities/commodities fraud.
Fraud Enforcement Act Benefits & Positives
Date
Positive Result\Benefit
Rank
05/20/09
Financial Crisis Inquiry commission created to examine and report on the domestic and global causes of the 2008 - 2009 financial and economic crisis
05/20/09
Mortgage lending businesses added to list of financial institutions subject to Federal criminal law in fraudulent lending practices
05/20/09
Crime of major fraud against the United States amended to include Federal grants made to stimulate economic recovery for fiscal years 2009 and 2010
05/20/09
Securities fraud definition amended to include fraud related to commodities futures and derivatives fraud
05/20/09
$140 million in special funding for the Federal Bureau of Investigation to investigate fraud in financial institutions
05/20/09
$100 million in special funding for the offices of the United States Attorneys to investigate and prosecute fraud in financial institutions
05/20/09
$80 million in special funding to the criminal, civil and tax divisions of the Dept of Justice to investigate and prosecute fraud in financial institutions
05/20/09
$60 million in special funding for the Postal Inspection Service to investigate financial institutions for fraud
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