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New Internet Gambling Legislation to Be Introduced by Financial Services Committee Chairman Barney Frank
May 5, 2009- Barney Frank (D-MA), Chairman of the House Committee on Financial Services, today announced plans to introduce legislation tomorrow to establish an enforcement framework for licensed gambling operators to accept wagers from individuals in the U.S. The legislation is expected to include a number of significant consumer protections, including safeguards against compulsive and underage gambling, money laundering, fraud and identity theft. Millions of Americans are wagering more than $100 billion annually with offshore Internet gambling operators despite the current prohibition imposed under the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). Full release.