Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Online gambling regs up for markup this week
WASHINGTON (7/26/10)--Rep. Barney Frank (D-Mass.) on Friday announced that his House Financial Services Committee will begin the process of marking up H.R. 2267, Internet Gambling Regulation, Consumer Protection, and Enforcement Act, on Tuesday. Discovery FCU President/CEO Ed Williams testified on behalf of the Credit Union National Association during a recent House committee hearing on H.R. 2267. During the hearing, which took place last Wednesday, Williams said that fully licensing and regulating online gambling portals used by U.S. citizens would eliminate some of the uncertainty that credit unions face regarding compliance with the Unlawful Internet Gambling Enforcement Act (UIGEA). UIGEA regulations currently require credit unions and other financial institutions to establish and implement policies and procedures to identify and block restricted internet gambling transactions, or rely on those procedures established by the payments system. H.R. 2267, which was introduced last year by Frank, would give the U.S. Treasury the authority to license internet gambling operators to accept bets and wagers from U.S. citizens and to create regulations for those gambling operators. Frank's legislation currently has 69 co-sponsors. Williams said that while he supports H.R. 2267, regulators and legislators should strengthen the safe harbor rules contained in the current UIGEA rules. Legislation related to housing, medical debt relief, shareholder protection, and bonds will also be discussed by the committee.


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
14 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
16 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
17 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
18 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
18 hours ago