The Fraud Accountability Act makes fraud a deportable offense for non-citizens and allows courts to revoke citizenship for naturalized U.S. citizens convicted of fraud. Specifically, the bill amends immigration law to make any non-citizen convicted of fraud against an individual, business, fund, or government entity subject to deportation, regardless of the amount of money involved, and requires such individuals to be held in custody pending removal proceedings. The legislation also grants all U.S. courts the power to automatically revoke citizenship and cancel naturalization certificates for naturalized citizens convicted of fraud or other specified crimes. The bill takes effect immediately upon enactment and applies retroactively to fraud cases committed since September 30, 1996, as long as the person was not previously arrested, charged, or indicted for that conduct. No specific funding is allocated in the bill.
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