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LegislationLEGISLATION | Detail


H.R. 1748: Fight Fraud Act of 2009

Sponsor: Conyers (D - MI)

Official Title: A bill to amend Title 18, United States Code, to enhance the investigation and prosecution of mortgage fraud and financial institution fraud, and for other purposes.

Status:
3/26/2009: Introduced
3/26/2009: Referred to House Financial Services Committee
3/26/2009: Referred to House Judiciary Committee
3/26/2009: Referred to House Oversight and Government Reform Committee
4/1/2009: Hearing Held by House Judiciary Committee
4/28/2009: Amended by the House Judiciary Committee
5/4/2009: Reported to House
5/4/2009: Discharged House Oversight and Government Reform Committee
5/4/2009: Discharged House Financial Services Committee

Commentary:
This bill, similar to S. 386, would expand Title 18’s definition of “financial institution” to include instrastate mortgage lenders, thereby including those businesses within the scope of at least 20 existing criminal provisions in Title 18 alone that apply to financial institutions. The bill would amend the offense against ‘False Statements in Mortgage Applications” to cover false statements made by mortgage brokers and lenders. It would also expand the offense of “Major Fraud Against the Government” to include fraud connected with the Troubled Asset Relief Program (TARP) and expand the offense of “Securities Fraud” to include fraud involving options and futures in commodities.

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