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Main article: "False Claims Act
Section 4 of FERA restates part of the "False Claims Act, to “reflect the original intent of the law“. This amendment is in reaction to the Supreme Court's 2008 decision in "Allison Engine Co. v. United States ex rel. Sanders, in which the Court held that the mere involvement of Federal money was insufficient to bring a fraudulent claim or invoice within the scope of the False Claims Act. The amended subsection (a) of "31 U.S.C. § 3729 effectively reverses the Allison Engine decision, weakening the requirement to “a false record or statement material to a false or fraudulent claim”, where a claim includes “any request or demand” related to a government program and which will be paid from funds supplied by the government.
Financial Crisis Inquiry Commission
Finally, section 5 of the Act created the "Financial Crisis Inquiry Commission, a legislative commission with each house of the "United States Congress represented by three members appointed by the majority party and two members appointed by the minority, none of whom may be employees of the Federal government or any state or local government. The purpose of the commission is "to examine the causes, domestic and global, of the current financial and economic crisis in the United States."
- ^ "Roll Call #170." On the Cloture Motion (Motion to Invoke Cloture on the Committee Substitute to S. 386). "111th United States Congress, 1st Session. "United States Senate.
- ^ "Roll Call #171." On Passage of the Bill (S. 386 as Amended). "111th United States Congress, 1st Session. "United States Senate.
- ^ "Roll Call #235" (On Motion to Suspend the Rules and Pass, as Amended - Fraud Enforcement and Recovery Act). "111th United States Congress, 1st Session. "Clerk of the United States House of Representatives.
- ^ "Roll Call #268" (Suspend Rules and Agree to S Adt to House Adts - Fraud Enforcement and Recovery Act). "111th United States Congress, 1st Session. "Clerk of the United States House of Representatives.
- ^ White House Press Office (May 20, 2009). "Protecting Homeowners, Protecting the Economy". Retrieved 2009-05-24.
- ^ FERA, section 2, subsections (a) through (c)
- ^ FERA, subsection (2)(d)
- ^ FERA, subsection (2)(e)
- ^ FERA, subsection (2)(f)
- ^ M. Maureen Murphy (June 13, 2008). "United States v. Santos: "Proceeds" in Federal Criminal Money Laundering Statute, 18 U.S.C. Section 1956, Means "Profits," Not "Gross Receipts"" (PDF). "Congressional Research Service. RS22896. Retrieved 2009-05-26.
- ^ Senate Judiciary Committee (March 23, 2009). "Senate Report 111-10". Retrieved 2009-05-26.
This bill would amend the Federal money laundering statutes (18 U.S.C. Sec. 1956, 1957) to correct an erroneous Supreme Court decision in 2008 that significantly weakened these statutes. In United States v. Santos, the Supreme Court misinterpreted the money laundering statutes, limiting their scope to only the `profits' of crimes, rather than the `proceeds' of the offenses. 128 S. Ct. 2020 (2008). The Court's decision was contrary to Congressional intent and will lead to criminals escaping culpability simply by claiming their illegal scams did not make any profit.
- ^ FERA subsection (2)(g)
- ^ FERA section 3
- ^ FERA, section 4
- ^ Senate Report 111-10, part III: "This section amends the FCA to clarify and correct erroneous interpretations of the law that were decided in "Allison Engine Co. v. United States ex rel. Sanders, 128 S. Ct. 2123 (2008), and United States ex. rel. Totten v. Bombardier Corp, 380 F.3d 488 (D.C. Cir. 2004)."