“Proposed UIGEA Regulations: Burden without Benefit?” – April 2, 2008
Testimony before the House Committee on Financial Services (Subcommittee on Domestic and International Monetary Policy, Trade, and Technology) offered further evidence that the ban on Internet gambling won’t work. Witnesses unanimously agreed that U.S. financial services companies would face serious regulatory burdens in attempting to enforce the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA), a law that has not stopped millions of Americans from continuing to gamble online.
Presented testimony:
- Louise L. Roseman, Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors of the Federal Reserve System
- Valerie Abend, Deputy Assistant Secretary for Critical Infrastructure Protection and Compliance Policy, U.S. Department of the Treasury
- Harriet May, President and Chief Executive Officer, GECU of El Paso, Texas on behalf of the Credit Union National Association
- Wayne A. Abernathy, Executive Vice President, Financial Institutions Policy and Regulatory Affairs, American Bankers Association
- Leigh Williams, BITS President, The Financial Services Roundtable
- Ted Teruo Kitada, Senior Company Counsel, Legal Group, Wells Fargo & Co.
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