Barney Frank Got Implementation of UIGEA Postponed!!!
27 November 2009
I say a big KUDOS to Barney Frank!!!! This is good news for the online industry for sure! Let us all stand behind him and what he is trying to do for all of us!
For Immediate Release:
November 27, 2009
Frank Statement on Implementation of Internet Gambling Regulations
Washington, DC—House Financial Services Committee Chairman Barney Frank today made the following statement after the announcement by the Treasury Department and the Federal Reserve that it would delay implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA) for six months:
“The Department of the Treasury and the Federal Reserve Board of Governor’s deserve a great deal of credit for suspending these midnight regulations promulgated by the Bush administration which would curtail the freedom of Americans to use the internet as they choose and which would pose unrealistic burdens on the entire financial community,” said Congressman Frank. “This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration and to undo this ill-advised law.”