Re: Maryland and Florida Apparently Against Frank Bill
 

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How this will work is beyond me since no US bank actually has an internet gambling business as a customer unless it is for horse racing, state lottery or some other exempted internet gambling in the UIGEA.

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Well following on Jimbo's thought, and a conversation with a Complaince VP at a decent sized small bank (5 states and adding FLA in Dec) today it seems the government hoped the system will simply add poker and gambling sites to the "ofac" list. This action would have been a death blow to us until some future legislation action.

While I am still investigating the origins, legal issues, as well a the offical name of this list; it seems this is a anti-fraud, crime, terrorism and narco-terrorism list. How it works is if a merchant, or even country is coded on this list banks will block all transaction to or from such merchant or country. I think they can do this under some sort of "national security" hook or law. But given how relucant the fairly open Complaince VP had been up an until the mention of this list was, I get the feeling there are some secrecy issues involved.

Given the former Att. Gen's exchange with Sen Kyl in January, I firmly beleive that is exactly what Sen. Kyl wanted from the UIGEA.

Given that the Sec. of the FED and TD, specifically avoided putting the UIGEA regulations under this method gives me hope as well as concern.

I am glad we didn't end up fighting for the rights of terrotists and narco-criminals just to be able to play poker on-line in the privacy of our own homes.

As it is I feel we have a better than even shot at getting the banks to tell the "Agencies" the proposed rule, and the UIGEA itself is completely unworkable if not un-Constitutional.


D$D

Re: Maryland and Florida Apparently Against Frank Bill
 

If online poker had been added to some banned transaction list, if it existed, then litigation over the legality of online poker would be necessary sooner than the present situation. Can such a list work for ACH's and checks?
I would be very optimistic about the result of such litigation. And I don't think that a favorable result would take years.

Re: Maryland and Florida Apparently Against Frank Bill
 

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Hey Jimbo, do you know how to cite a statute or regulation?

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Yes, must I do all the work for you? Heck, you can't even tell the difference between a regulation, a rule and a procedure, give me a break, I am giving you plenty of them. D$D only asked for a link where he could do some research on his own so that is what I provided. I don't see you offering any specific statutes that refutes what I stated was only my personal opinion on this matter. None of your posts on regulations cite anything other than personal opinion and 2nd hand experience.

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BTW the Patriot Act has done very poorly in federal courts.


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Pot, Kettle, black. Would you care to cite several examples of how poorly the Patriot Act has fared in Federal courts? Links to specific finalized cases will suffice.

Jimbo