Congressman Barney Frank announced that the Unlawful Internet Gambling Enforcement Act of 2006 will finally go into effect on June 1st, according to PokerNews.com.
Despite his attempts to block the legislation, Frank says he's not too concerned at this point. "It's fine with me," Frank said. "I think it's frankly so dumb and oppressive that it will create support to repeal the bill. I think, once it goes into effect, banks are going to raise hell and all the bankers will go to the Senate to complain."
The UIGEA would prohibit U.S. banks and credit card companies from sending money to internet gambling sites. The controversial legislation has long been delayed since it was passed by Congress in October 2006. The financial institutions will have to decide what constitutes unlawful internet gambling and identify the sites that fall in that category, and many think that's putting the responsibility into the wrong hands.
Frank still intends to work on a bill to override the UIGEA, which he calls the Internet Gambling Regulation, Consumer Protection and Enforcement Act.
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