The House vote on the bill that would block the US from implementing regulations mandated by the UIGEA was delayed a day, but is scheduled for a vote today.
The Birmingham News has a story that gives the viewpoint of Rep. Spencer Bachus (R-Ala.), who was previously the chairman of the Financial Services Committee before the Democrats took control of the House in 2006.
Quote:
They are like any other industry, they're going to argue for no obligations or responsibilities, but if you compare the complexity of these to the bank secrecy or money laundering statutes, this is first grade. It's very simple, very doable," Bachus said.
He also took his argument to the pages of the American Banker newspaper in an opinion piece on Tuesday.
A 2007 study by the Annenberg Public Policy Center at the University of Pennsylvania found a decrease in online gambling last year by American youth.
"The strong drop in use of Internet sites also suggests that federal legislation restricting the transfer of funds to Internet gambling sites has had its intended effect," said Dan Romer, director of the survey when it was released in October. "Whether this will last remains to be seen."
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Full story here ...
http://www.al.com/news/birminghamnew...440.xml&coll=2