Barney Frank Introduces Newer Version of Gambling Bill

Barney Frank

Congressman Barney Frank reintroduced his Payments System Protection Act of 2008 this week. He now intends it to formalize a process for defining illegal online gambling, rather than to fulfill its original purpose of preventing the implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA).

Frank is rightfully telling congress that the UIGEA law is irresponsible and puts too much pressure on the banks to police online payment processing at a time where U.S. banks are under enough stress.

The bill will be heard on Tuesday the 16th and we will post the results on the outcome.



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