A ranging attempt to confront mortgage lending issues, ramp up financial fraud enforcement, administer TARP funds and tighten the screws on false claims, the Fraud Enforcement and Recovery Act (FERA), enacted in May, is a bit of a Frankenstein’s monster. That makes it hard to get a clear read on the law’s overall significance and any new exposure it may present.

Expert opinions on the question are as divergent as the law itself. On the criminal side, FERA doesn’t change the status quo.