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Banking Regulators Not Likely to Delay Internet Gambling Ban, Say Analysts
By Brian Monroe
printA call by over a dozen lawmakers to delay a Dec. 1 deadline requiring banks to block transactions tied to Internet gambling won't likely sway the White House, say analysts. Nineteen lawmakers issued the 11th hour plea in an Oct. 1 letter to the U.S. Treasury Department and Federal Reserve urging the delay of a Dec. 1 enforcement deadline of the Unlawful Internet Gambling Enforcement Act (UIGEA) by one year. Under rules issued in November 2008, banks will have to identify and freeze transactions tied to offshore Internet gaming operations. If implemented, the law will create an "unreasonable burden on...
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