Frank Asks Treasury to Delay Online Gambling Payment Regulations - Online Casino Advi

[I Heart Gambling Online]

Barney Frank is surprised and disappointed that the Bush Treasury is trying to finalize UIGEA regulations at the last minute. After two years of hearing testimony from financial and government leaders over the unworkable and problematic nature of the law which attempts to prevent payment transactions regarding online casinos, Treasury officials are pushing a "midnight drop" of regulations.

Frank requested Secretary of the Treasury Henry Paulson delay the process until the incoming administration has a chance to review and discuss the proposed rules. The Massachusetts Representative has been a major critic of the UIGEA, and had his Payment Systems Protection Act advance from committee last month.

Frank's bill would prevent UIGEA implementation so as to guard the U.S. financial system from unnecessary stress at a fragile time economically.


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