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Opponents of Anti-Gambling Law See Hope of Undoing Bank Requirements
By Matt Squire
printOdds that banks won't have to implement programs to detect online gambling have markedly improved this year after past efforts to halt the regulation fell flat, according to gaming experts. Lawmakers, including Massachusetts Democrat Barney Frank, have introduced bills to shield banks from regulations that require them to block transactions sent to customers from illegal offshore gambling operations. Congress passed the Unlawful Internet Gaming Enforcement Act (UIGEA) in October 2006 and the U.S. Treasury Department issued its final rules in November. With the exit of the pro-UIGEA Bush administration and the introduction of reworked legislation that would tax gambling deposits,...
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