Houston Chronicle has posted an AP story that says the US Treasury Dept. is closing in on releasing the details of the regulations that financial institutions would have to follow under the UIGEA.

Included in that legislation were exemptions for certain financial institutions where it is "not reasonably practical" to prevent illegal Internet gambling. Abend said such exemptions would generally extend to the gambler's bank, but not banks that do businesses with firms that offer illegal gambling.

"In the case of checks, the check collection system is highly automated and it is not reasonably practical for the gambler's bank to know whether a check presented to it for payment involves unlawful Internet gambling," (Deputy Assistant Secretary Valerie) Abend said.

Conversely, she said, a gambling business' bank or the first U.S. bank to receive a check under the proposed rule would be required to have policies and procedures in place to stop the processing of a check.

A public comment period on the proposed rule is scheduled to close Dec. 12. Abend said Treasury expects a large number of responses and would provide analysis and reasons for any decisions based on the comments received.
So basically, players will be able to make deposits by check, but banks will be required to stop payment on winnings? That ain't good ...