Poker Legislation
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Great news!
Frank, Paul Introduce Legislation to Stop Implementation of Antigambling Regulations
Washington, DC—House Financial Services Committee Chairman Barney Frank
(D-MA) and senior Financial Services Committee member Ron Paul (R-TX)
have introduced legislation to prohibit the federal government from
issuing regulations called for in the called for in the Unlawful
Internet Gambling Enforcement Act of 2006. The legislation, H.R. 5767,
will forbid the Secretary of the Treasury and the Board of Governors of
the Federal Reserve System from proposing, prescribing, or implementing
any regulation that requires the financial services industry to
identify and block internet gambling transactions.
“These regulations are impossible to implement without placing a
significant burden on the payments system and financial institutions,
and while I do disagree with the underlying objective of the Act, I
believe that even those who agree with it ought to be concerned about
the regulations’ impact,” said Rep. Frank.
“The ban on Internet gambling infringes upon two freedoms that are
important to many Americans: the ability to do with their money as they
see fit, and the freedom from government interference with the
Internet. The regulations and underlying bill also force financial
institutions to act as law enforcement officers. This is another
pernicious trend that has accelerated in the aftermath of the Patriot
Act, the deputization of private businesses to perform intrusive
enforcement and surveillance functions that the federal government is
unwilling to perform on its own,” said Rep. Paul.
Specifically, at issue is the fact that the regulations, like the
underlying legislation, fail to define the term “unlawful internet
gambling,” leaving it to each financial institution to reconcile
conflicting state and federal laws, court decisions and inconsistent
Department of Justice interpretation, when determining whether to
process a transaction. Furthermore, some of the information needed to
make this determination would likely be unavailable to banks, either
because customers or financial institutions in foreign jurisdictions
are unwilling or unable to provide it. At the hearing, the regulators
themselves admitted that there are substantial problems in crafting
regulations to implement the UIGEA that does not have a substantial
adverse effect on the efficiency of the nation’s payment system.
Chairman Frank and Congressman Paul opposed the UIGEA, and the two
have been working on legislation, H.R. 2046 that would license and
regulate online gaming. However, it was clear at the hearing that the
regulations are unworkable for the financial services industry, and
this bill would, therefore prohibit their implementation.
On Wednesday, April 2, the DIMP Subcommittee held a hearing
“Proposed UIGEA Regulations: Burden Without Benefit?” to examine the
regulations issued last year by the Federal Reserve and Treasury on the
Unlawful Internet Gambling Enforcement Act, which garnered more than
200 comment letters.
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Dan
(United States)
2,216
Posts.
Joined
05-01-2006.
04-11-2008 6:17 PM
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In reply to
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How long until we will know if this will go through or not?
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ill flu: |   |
How long until we will know if this will go through or not?
We should have a good idea of its prospects within the next few months, but maybe this will go through faster.
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My latest letter. As I've sent a few letters recently, this is intentionally short and more casual in tone:
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The Honorable Geoff Davis United States House of Representatives 1108 Longworth House Office Building Washington, D.C. 20515-1704
Dear Congressman Davis:
I am writing to ask you to cosponsor HR 5767. HR 5767 places a moratorium on enforcement of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA).
As you know, many banks have complained about being deputized to interpret and enforce EVERY state and federal Internet gaming law, which is what UIGEA requires. They complained in comments to Treasury and to the Federal Reserve. They complained even more at the April 2, 2008 Subcommittee on Domestic and International Monetary Policy, Trade and Technology hearing on the impact of UIGEA on our nation’s financial services industry.
One thing the Subcommittee hearing made completely clear is that Congress needs to define “unlawful Internet gambling” before it can expect financial institutions to have any chance at effectively enforcing any ban on such activity. The idea that the federal government cannot define this concept, yet expects banks to perform this law enforcement function, is ludicrous. We ought not force our nation's financial institutions to perform this function.
Thank you for your consideration.
Sincerely, [me]
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Senator Mitch McConnell United States Senate 361-A Russell Senate Office Building Washington, DC 20510
Dear Senator McConnell:
I am writing to ask you to sponsor a moratorium on enforcement of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) in the Senate. The corresponding House bill is HR 5767.
As you know, many banks have complained about being deputized to interpret and enforce EVERY state and federal Internet gaming law, which is what UIGEA requires. They complained in comments to Treasury and to the Federal Reserve. They complained even more at the April 2, 2008 House Subcommittee on Domestic and International Monetary Policy, Trade and Technology hearing on the impact of UIGEA on our nation’s financial services industry.
One thing the 2008 Subcommittee hearing made completely clear is that Congress needs to define “unlawful Internet gambling” before it can expect financial institutions to have any chance at effectively enforcing any ban on such activity. The idea that the federal government cannot define this concept, yet expects banks to perform this law enforcement function, is ludicrous. We ought not force our nation's financial institutions to perform this function.
Thank you for your consideration.
Sincerely, [me]
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Dan
(United States)
2,216
Posts.
Joined
05-01-2006.
04-16-2008 9:57 AM
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In reply to
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Great example letters. It's important to let your Congressmen know that you want them to support HR 5767 and that you're registered to vote in their district. Both are extremely important to say.
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Good point, Dan. I write to my congressman and both Senators frequently and have met with their staffs in D.C. As they know I vote, I didn't need to mention it. For others using my letter as a template: you should add the fact that you're registered to vote in your district/state to your letter.
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Rep. Robert Wexler (D-FL) has cosponsored HR 5767.
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Dan
(United States)
2,216
Posts.
Joined
05-01-2006.
04-18-2008 3:21 PM
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In reply to
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Wexler stated on the PocketFives.com Podcast that he was going to co-sponsor HR 5767 as well, so it's good to see this come to fruition:
http://www.pocketfives.com/podcast
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