The Fraud Enforcement and Recovery Act of 2009 ("FERA" or "the Act") was signed into law by President Obama May 20, 2009, and became effective on that date.1 The law was passed with the stated purpose of improving "enforcement of mortgage fraud, securities and commodities fraud, financial institution fraud, and other frauds related to federal assistance and relief programs, for the recovery of funds lost to these frauds, and for other purposes."
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