Barney Frank Online Gambling Bill Mark Up Delayed By Market Crash

Barney Frank has proposed yet another Bill that would help sort out the difficult language that the Unlawful Internet Gambling Enforcement Act has created. The Bill is set for mark up today, but it will have to wait until later in the day to be addressed.

The Financial Services Committee has five Bills that are being discussed today, Frank's online gambling Bill being one of them. They have spent the beginning of their session focusing mainly on the Stock Market crash of Monday.

Later in the day, Frank's Bill will be marked up. The intention of Frank is to eliminate the confusion that has come along with the UIGEA. That was passed back in 2006 and to this point nobody has been able to enforce the Enforcement Act.

It is unclear in the 2006 Bill how exactly it should be enforced. The government claims it is the responsibility of the financial institutions. The banks have responded by saying they do not have the resource3s to enforce the Bill.

Frank has been diligently trying to find a solution that would please all parties involved. He is seeking to legalize and regulate online poker. If he succeeds, millions of dollars in revenue would be brought into the U.S. economy.

Check in with CGW later in the day to find the results of the mark up phase of H.R. 6870. We will have complete coverage once the discussions are held by the Finance Committee.

September 16, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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