Internet gambling measure headed to Judiciary
An Internet gambling bill barring the use of credit cards to place bets online was approved by the House Financial Services Committee Wednesday and is now headed to the House Judiciary Committee.
The bill, H.R. 4411, prohibits a gambling concern from accepting credit cards, wire transfers or other financial institution instrument for bets. It also requires Treasury, the Federal Reserve Board and the U.S. attorney general to prescribe rules requiring payment systems and all their participants—including financial institutions—to implement policies and procedures to identify and prevent restricted transactions.
The bill does not apply to state lotteries, tribal gaming and horse racing operations. The panel reported out H.R. 4411 on voice vote.
Also awaiting Judiciary Committee action is H.R. 4777. This bill, introduced by Rep. Bob Goodlatte, R-Va., would revise the Wire Act to bar the use of any communications technology for betting transactions.
