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April 29, 2009 | | Comments 0 | Filed Under: DailyForeclosureGovernmentNewsWall StreetWorld

Senate passes Mortgage fraud enforcement bill

In freshman Sen. Ted Kaufman’s first legislative victory, the U.S. Senate voted Tuesday to give the federal government more funds to investigate and prosecute financial crimes.

Kaufman, a Democrat, was one of the original co-sponsors of the bill, which authorizes $532 million over the next two years toward combating financial fraud. A large portion of the money will go toward helping the Federal Bureau of Investigation hire more agents and prosecutors.

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