05.06.09

Comment On House Passage Of The Fraud Enforcement And Recovery Act, As Amended

The House of Representatives today approved the Fraud Enforcement and Recovery Act.  The legislation was authored by Senators Patrick Leahy (D-Vt.) and Chuck Grassley (R-Iowa), and was passed by the Senate on April 28.  The legislation is supported by the White House, the Department of Justice, the Federal Bureau of Investigation, and several law enforcement organizations.  The Senate must again approve the amended legislation before it is sent to the President for signature.  A vote has not yet been scheduled.

“I am very pleased that the House of Representatives has passed important anti-fraud legislation, the Fraud Enforcement and Recovery Act.  Senator Grassley and I have worked hard to move this legislation through Congress.  The federal government and law enforcement agencies need the tools and resources included in this legislation to combat the growing wave of financial fraud and mortgage fraud.  Senator Grassley has been a true partner in the writing and consideration of this bill.  Representative Steny Hoyer, and Representatives John Conyers, Bobby Scott and Lamar Smith, have all been helpful in moving the legislation through the House.

“The Fraud Enforcement and Recovery Act is strongly supported by the Obama administration.  Congress has already shown its commitment to fighting fraud.  I hope the Senate will quickly pass this legislation and send it to the President for signature without delay.”

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