Fed considering comments on Internet gambling rule - Scientific American

WASHINGTON (Reuters) - The Federal Reserve is carefully considering all comments received on rules for a law banning bank and credit card payments to illegal Internet gambling sites, a Fed official said on Wednesday.

Louise Roseman, the Fed's director of reserve bank operations and payment systems, told a House Financial Services subcommittee that the biggest subject of comments on the Fed's proposed rule is the lack of clarity on what constitutes unlawful online gambling.

Roseman said gambling and financial industry commentators wanted to be told specifically which transactions should be blocked.

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