Barney Frank’s Internet gambling hearing December 3, 2009
The House Committee on Financial Services held a hearing on Internet gambling on December 3, 2009 Chaired by Congressman Barney Frank, a proponent of online gambling, up for consideration were H.R. 2266, Reasonable Prudence in Regulation Act, and H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. Seven witnesses volunteered their opinions.
Some online gambling sites previously prohibited American players, after passage of the Unlawful Internet Gambling Enforcement Act (UIGEA), a six month delay was applied to these regulations last month by the Treasury and Federal Reserve. One bank representative testified “The added burden [of enforcing the UIGEA] would drain our resources. The law doesn’t define unlawful internet gambling. As a result, the burden rests solely on financial institutions.” HR 2266 would delay UIGEA for s year, HR 2267 would establish licensing and regulation for the industry, defining lawful gambling in the process. Critics were concerned about the corrupting effect of anonymous online gambling on under-aged children, an FBI letter doubting the assurances of online operators that cheating and underage players could be prevented was cited.
The bills were not advanced, at the end of the 90 minute hearing Frank announced the issue would be taken up again in 2010.
Status: No change as of feb 27, 2010 The majority of bills and resolutions never make it out of committee.
The Safe and Secure Internet Gambling Initiative spokesman had brief comments after the hearing
Youtube Video: Michael Waxman comments on the House hearing on Internet gambling