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Casino News March 2008 Frank's Online Casinos Debate
Casino News March 2008 Frank's Online Casinos Debate
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| Frank's Online Casinos Debate |
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Barney Frank is perhaps the Congressman with the most outspoken concern for the U.S. internet gambling industry and the current political and international debates surrounding the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA). Frank has been very active in prompting discussion and education to politicians and Congressmen with little knowledge or concern of the online casino gambling issues in the U.S. Frank is also the key backer to UIGEA counter legislation that seeks to neutralize the online casinos gambling ban on U.S. financial transactions. Now that there is also widespread concern about the U.S. Treasury Department’s proposed UIGEA regulations for the banks, Franks has commented that he will pursue the internet gambling issue at an upcoming hearing for the spring. Barney Frank’s proposed act that would neutralize the UIGEA would take the burden of the online casinos issue completely off the shoulders of the banking industry and instead put enforcement on other areas – namely a committee that will be specially developed to license, regulate and enforce regulations in the United States. The U.S. banking industry is in a precarious situation over the past year as the mortgage industry in the country goes south – this is where Frank believes the banks should be focusing their efforts and manpower. Frank commented, “The banks have a lot of other things to worry about right now. I don’t think poker should be one of them.” And the banking industry whole-heartedly agrees with Frank – there is just no way that the banks can use the restrictions and proposed regulations to even feasibly block illegal online casinos gambling transactions. The UIGEA and the proposed regulations are flawed and Frank has announced plans to continue stressing the precarious state that the UIGEA will place the banking industry into if the proposed regulations are passed through. Source:http://www.gamblecraft.com/ |
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Thursday, 09 September 2010
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