Thank you for contacting me with your support for H.R. 2267, the Internet Gambling Regulation, Consumer Protection Act, and H.R. 2266, the Reasonable Prudence in Regulation Act. I agree that there needs to be a clarification of the UIGEA, and that there must be consumer protection for law-abiding poker players.
You will be pleased to know that I am a cosponsor of both H.R. 2267 and H.R 2266. The Unlawful Internet Gambling Enforcement Act seeks to cut off the flow of revenue to internet gambling businesses. I am concerned about this legislation imposing broad regulations that could hurt our nation's financial system. I believe it is important to provide safeguards against underage participation of online gambling but also to provide consumer protections for those who play online poker every day.
As you may know, the Unlawful Internet Gambling Enforcement Act only applies to money going from a player to an operator. Banks are only supposed to give "due diligence" when setting up new commercial accounts but are not supposed to look at money sent by operators to players.
As a member of the Financial Services Committee, I look forward to working with my colleagues to enact common sense oversight and regulation of this industry.
Again, thank you for contacting me and I apologize for the delay in responding to your letter. Feel free to visit my website at http://minnick.house.gov for continued updates on my work, and do not hesitate to contact me if I can be of assistance in the future.
It is an honor to serve you in the U.S. Congress.
Sincerely,
Walt Minnick
Congressman
ID, 1st CD