LIVE UPDATES - Possible markup session for the Barney Frank bill

[vinism]

There will also be a feasibility study to determine how to deal with impaired gamblers.

[vinism]

This is a huge amendment. As soon we get a copy of it, we'll post it.

[vinism]

Bachus says he won't oppose this amendment. But he doesn't think it's going to work. He's entering a letter from the FBI says there are several ways to cheat in online poker that aren't banned by the Frank bill, and that technology exists to cheat and collusion means you don't even technology to cheat. FBI also fears cheaters will use online poker rooms to "virtually wash" money.

[vinism]

Bachus says 45 Attorneys General oppose the legislation. Bachus says the FBI doesn't think age and geolocation technology works.

[vinism]

The amendment just passed on a voice vote.

[vinism]

The Sherman 100 amendment is now being discussed.

[andreea]

I'm just wondering what the FBI's involvement with finding cheaters, or amendments regarding ensuring that minors aren't gambling has to do with the freedom of choosing to gamble or not? Have they already agreed to this basic factor or are they actually still discussing whether this freedom should be allowed based on the opposing arguments from people like Bachus about charities, minors, cheaters etc. ?

[vinism]

Instead of giving states 90 days to opt out, it gives states one full (general) legislative session to opt out. This gives states the time they need, especially if they don't meet regularly, to opt out.

[vinism]

The amendment passed without debate.

[vinism]

Bachman is offering an amendment now (No. 84).

[vinism]

The amendment would revoke the license of any operator who is targeting their ads at minors. "Think Joe Camel," says Bachman.

[vinism]

Bachman says we currently prohibit the smoking industry from targeting minors.

[vinism]

Frank supported the amendment and it passed.

[vinism]

Rep. Bean is offering an amendment that requires the frequent monitoring and testing of minor protection systems. She says that parents in her district are shocked to find their college kids coming back with both college debt (student loans) and gambling debt.

[vinism]

Rep. Kilroy is co-sponsoring in the amendment and she's speaking in support of it now.

[vinism]

Ineffective minor protection systems are could be cause for license revocation.

[vinism]

Funny moment.

Bachus: I won't belabor this point....

Frank: I must interrupt, yes you will....

Laughter in the room.....

[vinism]

Bachus says minor protection won't work, but he'll support the amendment.

[vinism]

Frank says the principal that if children can't do it, it shouldn't be on the Internet would be the most substantial intrusion.

"You can't prevent adults from doing things" just for protecting children. Frank says you have to find adequate ways to protect children.

[vinism]

Campbell reading a letter from a consumer rights group saying the best route to go in terms of protecting minors and consumers is regulation.