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Frank hopes to repeal Online Gambling Bill

Posted April 29th, 2009 by Dennis

Barney Frank is going to try to get his bill in front of congress again early next week. Barney Frank is a US Representative who has been in congress for ever, since 1981. He also serves as Chairman of the Financial Services Committee, and is now attempting to introduce a bill with the goal of repealing the UIGEA. This would make USA online casino gambling easier. "We'll be introducing it next week and I plan to move on it," Frank told an audience at the Reuters Global Financial Regulation Summit of the measure.

Although the US government is scrambling to address all types of economic issues, Frank does not want to put his bill on hold any longer. With an anticipated revenue increase of over $5 billion a year, Frank thinks this extra revenue is too important.

The UIGEA was designed to prohibit banks from accepting gambling transactions form US players and has directly impacted the online gambling industry. Many think that this is not needed and prevents US citizens from enjoying what millions around the world do, gamble online.

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