House Approves Bipartisan Legislation to Recover Nearly $1 Billion in Pandemic Unemployment Fraud Funds

The U.S. House of Representatives passed the 'Recover COVID Unemployment Fraud in Banks Act' (H.R. 8873), a bipartisan bill aimed at recovering approximately $1 billion in unspent COVID-era unemployment insurance funds suspected of fraud. The legislation also extends the statute of limitations for prosecuting pandemic unemployment insurance fraud from 5 to 10 years, enhancing federal and state coordination for retrieval.