(1) There is created a restricted account within the General Fund known as the "Mortgage and Financial Fraud Investigation and Prosecution Restricted Account."
(2) The restricted account includes: (a) $2,000,000 of deposits from the foreclosure fraud settlement agreement between the United States Justice Department, United States Department of Housing and Urban Development, and a bipartisan group of state attorneys general, including Utah's attorney general, Bank of America, Citi, JP Morgan Chase, GMAC, and Wells Fargo announced in February 2012; and (b) any other amount appropriated by the Legislature.
(a) $2,000,000 of deposits from the foreclosure fraud settlement agreement between the United States Justice Department, United States Department of Housing and Urban Development, and a bipartisan group of state attorneys general, including Utah's attorney general, Bank of America, Citi, JP Morgan Chase, GMAC, and Wells Fargo announced in February 2012; and
(b) any other amount appropriated by the Legislature.
(3) Money from the restricted account shall be used by the attorney general to: (a) investigate and prosecute mortgage and financial fraud throughout the state; and (b) fund mortgage and financial fraud investigation and prosecution staff.
(a) investigate and prosecute mortgage and financial fraud throughout the state; and
(b) fund mortgage and financial fraud investigation and prosecution staff.
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