Fraud Enforcement Act


Latest Forum Threads on Fraud Enforcement Act

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

DatePositive Result\BenefitRank
05/20/09$42 million in special funding for the Securities and Exchange Commission to investigate securites fraud in financial institutions
05/20/09$40 million in special funding for the Secret Service to investigate financial institutions for fraud
05/20/09$60 million in special funding for Inspector General's Office at the U S Dept of Housing and Urban Development to investigate financial institutions for fraud
05/20/09$60 million in special funding for the Postal Inspection Service to investigate financial institutions for fraud
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$100 million in special funding for the offices of the United States Attorneys to investigate and prosecute fraud in financial institutions
05/20/09$140 million in special funding for the Federal Bureau of Investigation to investigate fraud in financial institutions
05/20/09Securities fraud definition amended to include fraud related to commodities futures and derivatives fraud
05/20/09Crime of major fraud against the United States amended to include Federal grants made to stimulate economic recovery for fiscal years 2009 and 2010
05/20/09Mortgage lending businesses added to list of financial institutions subject to Federal criminal law in fraudulent lending practices
05/20/09Financial Crisis Inquiry commission created to examine and report on the domestic and global causes of the 2008 - 2009 financial and economic crisis