House Approved $490 Million to Fight Fraud

May 19, 2009


Bipartisan legislation that included $490 million over the next two years slated for mortgage fraud detection and prosecution was approved yesterday 338-52.

President Obama is expected to receive the bill for his signature today. The Justice Department is to receive $165 million to hire fraud prosecutors and investigators, while the Federal Bureau of Investigation would receive $140 million for the increase of officials on the agency's mortgage-fraud task forces. Also, the U.S. Attorney's office would receive $50 million and $40 million would be used to expand the Justice Department's criminal, civil and tax divisions.

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