Barney Frank And Ron Paul Introduce New Bill To Suspend Internet Gambling Ban

The Unlawful Internet Gambling Enforcement Act of 2006 has been coming under fire from several politicians as of late. Representative Barney Frank has been leading the charge against the UIGEA.

On Friday, a new Bill was introduced by both Frank, and Representative Ron Paul. The Bill would prohibit the Department of The Treasury and Federal; Reserve System from proposing, prescribing or implementing any regulations related to the current ban on Internet gambling, as required by the UIGEA.

The Bill is aimed at keeping financial institutions from having to worry about policing a law that they did not create. They have other important issues they should be using their resources for.

Testimony was heard last week, and most of that testimony was focused on the regulatory burden that will be created on the financial institutions. Among those who testified were representatives from, the American Bankers Association, Wells Fargo & Co., and the Credit Union National Association.

"The Frank-Paul Bill would stop the U.S. government from taking any further steps on regulations that would require all of the country's financial institutions to block Internet gambling payments," said Jeff Sandman, spokesman for the Safe and Secure Internet Gambling Initiative.

Among the concerns of the representatives that testified last week, was the ambiguous nature of the UIGEA. What is, and what is not, considered illegal, is a sticking point that many people cannot figure out within the UIGEA.

April 12, 2008
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com
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