Fraud Enforcement and Recovery Act of 2009


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Fraud Enforcement and Recovery Act of 2009

Legislation in the United States that allocated more money to various inspection divisions of the federal government with the intention of improving fraud investigations. It also included mortgage lenders for the first time in the definition of financial institution, enabling the government to investigate them for fraud as well. The act was adopted in response to the sub-prime mortgage crisis, which had led to the global financial crisis that began in 2008.