March 14th, 2008, Congressman Tim Bishop [D-NY], who represents the 1st District of New York State has joined as the 47th co-sponsor of H.R. 2046: Internet Gambling Regulation and Enforcement Act of 2007. Congressman Bishop currently serves on the House Transportation and Infrastructure Committee and the Education and the Labor Committee.
The Internet Gambling Regulation and Enforcement Act of 2007 is making headway through Congress on its way to reversing the current anti-gambling legislation in place, the form of the Unlawful Internet Gambling Enforcement Act of 2006 which has made is illegal for financial institutions to process online gambling transactions. The financial institutions have spoken out against the UIGEA because
“If the federal agencies themselves cannot agree on the law, what hope is there that banks can resolve these confounding legal issues?” the American Bankers Association said in commenting on a conflict between the Treasury and Justice departments on the legality of betting on horses.
The Washington trade group said the suggested rules are more likely to catch its members in a compliance trap than stop profits from illegal gambling from escaping offshore.
Tags: H.R. 2046 · US Legislation · usaNo Comments
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