Anti-Financial Fraud Bill Returns To Senate

Law360, New York (May 6, 2009, 12:00 AM EDT) -- The U.S. House of Representatives on Wednesday signed off on a bill that would boost the tools available to federal authorities in investigating and prosecuting skyrocketing reports of mortgage fraud and Ponzi schemes.

The Fraud Enforcement and Recovery Act, which makes changes to federal fraud laws and increases funding for law enforcement, passed through the House with a 367-59 majority.

Written by Sen. Patrick Leahy, D-Vt., and co-sponsored by Sens. Charles Grassley, R-Iowa, and Ted Kaufman, D-Del., the bill, also known as FERA, was passed by...
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