Barney Frank Asks Bernanke, Paulson to Stop Online Gambling Policies - Gambling911.co

[I Heart Gambling Online]

Congressman Barney Frank, Chairman of the House Financial Services Committee which oversees housing and banking industries, has written two letters to both Federal Reserve Chairman Ben Bernake and Secretary Henry Paulson asking that the Treasury Department not burden the banking institutions further with an unfunded mandate, the Unlawful Internet Gambling Enforcement Act. That law requires that banks monitor and stop any transactions deemed for unlawful Internet gambling, however, the Treasury Department has not defined what is "unlawful" and what is "lawful".

"I am deeply disappointed to hear that your agency is moving forward with what I consider to be unseemly haste in issuing regulations implementing the Unlawful Internet Gambling Enforcement Act," Congressman Frank writes to Henry Paulson.

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