Frank stays the course on the online gambling issue
The Chairman of the House
Financial Services Committee, Barney Frank (D-Mass.) said on
Thursday that he will continue to push for the lift of the
online gambling ban which passed last year, attached to the
unrelated Port Security Act.
The ruling of the WTO
that this bill was illegal would help the Representative from
Massachusetts in his agenda. However, Rep. Frank has no concrete
steps to how he would proceed towards repealing of the last
year's legislation. A considerable support from other
legislators would be required for chairman Frank to continue
forward with a possible legislation of his own.
”I think a reconsideration
among my colleagues is beginning. It’s not far enough along yet
so I wouldn’t move the bill but I plan to introduce the bill and
if the storm of public unhappiness is great enough, I will try
to substantially revise that ban.” - he said to reporters.
The ban on banks and credit
card institutions to process transactions to offshore gambling
website, also known as UIGEA, is expected to put an extreme load
on every bank in the country, and it is deemed by many as
unenforceable. A strong banking lobby is expected to form behind
Congressman Barney Frank and his future bill.