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Unclaimed FundsThe Federal Deposit Insurance Corporation (FDIC) provides deposit insurance to financial institutions and depositors of these institutions. If a financial institution is closed, by a regulatory agency, the FDIC is appointed as Receiver and is responsible for the payment of insured deposits and the liquidation of the remaining assets. If you did not claim your funds previously you now have another opportunity to do so. Review the "How to claim your funds" section below and complete the attached form. Why does FDIC have unclaimed funds? When a failed financial institution (ban...
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Mortgage Fraud Prosecutions https://www.house.gov/apps/list/press/ma10_delahunt/mortgage4109.html Further Information: Mark Forest/Rory Sheehan - 202-225-3111 DELAHUNT SEEKS BOOST IN MORTGAGE FRAUD PROSECUTIONS Hearing on Delahunt Co-Sponsored Legislation to Prosecute Mortgage and Securities Fraud WASHINGTON, DC – Today, the House Judiciary Committee held an oversight hearing on legislation cosponsored by U.S. Rep Bill Delahunt to boost the number of law enforcement personnel and prosecutors available to fight mortgage and securities fraud. “The recent explosion of mortgage and securities fraud cases is unprecedented and has created significant burdens on our law enforcement community,” said Delahunt. “If we are to protect the American consumer and boost confidence in the marketplace, then we must provide more resources to aggressively prosecute these cases.” Last week, FBI Director Robert Mueller testified before a Senate Judiciary Committee hearing and reported that the explosion of mortgage fraud cases has stretched thin the resources of the FBI for white collar investigations. Today’s hearing, entitled “Fighting Fraud and Protecting Taxpayers,” focused on a number of legislative initiatives to fight financial fraud, corporate fraud, contracting fraud, and mortgage fraud. One of these proposals, H.R. 1748, the “Fight Fraud Act of 2009,” which Delahunt is an original co-sponsor would improve the government’s ability and capacity to investigate and prosecute mortgage and financial fraud. It is designed to protect taxpayers from future frauds that exploit the economic assistance programs intended to restore and rebuild out economy. The bill provides substantial funding for the Justice Department and other agencies to hire, prosecutors, agents and analysts in order to restore their capacity to pursue mortgage corporate and other financial fraud. It will also provide important clarifications to current criminal and civil fraud statutes to ensure that law enforcement has the tools and resources it needs to prevent and punish these frauds, as well as to recover taxpayer money. To read the text of the bill, please click here. “The current financial crisis was caused in part by lax regulatory oversight of risky mortgage and securities products,” said Delahunt. “One way we can restore trust and confidence in the financial markets and among consumers, is by tightening up our laws and through aggressive prosecution of abuses. The hearing also included, H.R. 1292, which would amend Title I of the Omnibus Crime Control and Safe Streets Act of 1968 to establish a National White Collar Crime Center grants program for purposes of identification, investigation, and prosecution of certain criminal conspiracies and activities, including financial and mortgage fraud. Delahunt expects the legislation to be marked up by the Committee in the near future. Back
Mortgage Fraud Prosecutions https://www.house.gov/apps/list/press/ma10_delahunt/mortgage4109.html Further Information: Mark Forest/Rory Sheehan - 202-225-3111 DELAHUNT SEEKS BOOST IN MORTGAGE FRAUD PROSECUTIONS Hearing on Delahunt Co-Sponsored Legislation to Prosecute Mortgage and Securities Fraud WASHINGTON, DC – Today, the House Judiciary Committee held an oversight hearing on legislation cosponsored by U.S. Rep Bill Delahunt to boost the number of law enforcement personnel and prosecutors available to fight mortgage and securities fraud. “The recent explosion of mortgage and securities fraud cases is unprecedented and has created significant burdens on our law enforcement community,” said Delahunt. “If we are to protect the American consumer and boost confidence in the marketplace, then we must provide more resources to aggressively prosecute these cases.” Last week, FBI Director Robert Mueller testified before a Senate Judiciary Committee hearing and reported that the explosion of mortgage fraud cases has stretched thin the resources of the FBI for white collar investigations. Today’s hearing, entitled “Fighting Fraud and Protecting Taxpayers,” focused on a number of legislative initiatives to fight financial fraud, corporate fraud, contracting fraud, and mortgage fraud. One of these proposals, H.R. 1748, the “Fight Fraud Act of 2009,” which Delahunt is an original co-sponsor would improve the government’s ability and capacity to investigate and prosecute mortgage and financial fraud. It is designed to protect taxpayers from future frauds that exploit the economic assistance programs intended to restore and rebuild out economy. The bill provides substantial funding for the Justice Department and other agencies to hire, prosecutors, agents and analysts in order to restore their capacity to pursue mortgage corporate and other financial fraud. It will also provide important clarifications to current criminal and civil fraud statutes to ensure that law enforcement has the tools and resources it needs to prevent and punish these frauds, as well as to recover taxpayer money. To read the text of the bill, please click here. “The current financial crisis was caused in part by lax regulatory oversight of risky mortgage and securities products,” said Delahunt. “One way we can restore trust and confidence in the financial markets and among consumers, is by tightening up our laws and through aggressive prosecution of abuses. The hearing also included, H.R. 1292, which would amend Title I of the Omnibus Crime Control and Safe Streets Act of 1968 to establish a National White Collar Crime Center grants program for purposes of identification, investigation, and prosecution of certain criminal conspiracies and activities, including financial and mortgage fraud. Delahunt expects the legislation to be marked up by the Committee in the near future. Back