A law that bans US banks and financial companies from handling Internet gambling bets may turn out to be an enforcement nightmare, a congressional hearing was told Wednesday.
The hearing by the House Financial Services Committee examined progress in implementing a law passed in 2006, which outlaws US banks and credit card companies from processing Internet bets.
Valerie Abend, a US Treasury official, said the agency is "making progress" but has still not come up with final rules to implement the law after numerous complaints from financial services firms during a public comment period.
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