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Barney Frank says No Carve Out for Online Poker during Repeal of UIGEAFri, Apr 13th, 2007 @ 12:00am U.S. Rep. Barney Frank stated that he will present a bill within two weeks to repeal the Unlawful Internet Gambling Enforcement Act (UIGEA), but will need much more time to gain support for the bill and would not seek a carve out for online poker. "I think a reconsideration among my colleagues is beginning," he said to European reporters in Belgium during his overseas visit this week. "It's not far enough along yet so I wouldn't move the bill but I plan to introduce the bill and if the storm of public unhappiness is great enough, I will try to substantially revise that ban." Congressman Frank, a senior Democrat who is chairman of the powerful House financial services committee that oversees financial services, told reporters earlier that the online gambling bill passed last fall was "one of the stupidest things I ever saw." UIGEA was attached to an unrelated but "certain to pass" Port Security Bill last October just before a Congressional adjournment for electioneering, and made it illegal for financial institutions to handle transactions between online gambling companies and US residents. The UIGEA caused widespread disruption in the U.S. market and was responsible for substantial investor and corporate losses on processors and public online gaming companies registered on the London stock exchange. "I want to get it [UIGEA] undone. I plan to file legislation," Barney said, explaining that he would lay out his plans in the next couple of weeks but would not move them forward until other lawmakers are on board. However, Frank noted that his House Financial Services Committee by itself could not do more than lift the ban on using credit cards to pay for Internet gambling. "My committee only has jurisdiction over credit cards. I can't do more than repeal the ban on the use of credit cards. We don't have jurisdiction generally over the Internet or other aspects of this," Frank said. In addition, he rejected a carve out that Poker players have been lobbying for, similar to the way the UIGEA currently exempts using the Internet to bet on horses and sports fantasy games or buy Lottery tickets. Frank said he was "unpersuaded" to work for such a carve out. "I am not going to draw a distinction between poker and blackjack," Frank said. Read Related Articles:
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