Stars Update #2

[Dennisa]

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While again I have no reason to believe that stuff about Barclay's terminating their relationship with neteller (and that would only matter if neteller can't find another banking relationship), Barclay's might be worried that they would be identified as the financial institution funding gambling sites, with neteller being viewed as a super account aggregator or something while Barclay's is the real underlying bank. However even then, that is just the same as if you transferred funds from a US bank to a canadian one you had, and then from that one to a poker site. That other bank is still one step removed, not on US soil, and thus not subject to the transactions prohibitions of the legislation.

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I worked in a bank for a few years in the 80's. Banks do not like gray areas. If their counsel feels that having a company is primarily focused on only gambling transactions, they will close the relationsship with the "rogue" company.

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All the banks will have to do is follow the regulations promulgated by the Treasury and the Federal Reserve. Banks will not have to decide on their own whether Neteller is "focused only on gambling transactions."

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Agreed, but with the current administration, are they really going to see Neteller as more than a company that provides online gaming transactions? We dont have friends at the DOJ right now.