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Banks
Fighting
UIGEA
December
29,
2007
The
banks
of
the
United
States
are
taking
a
stand
against
the
government’s
stance
on
online
gambling.
They
say
that
with
the
passage
of
the
Unlawful
Internet
Gambling
Enforcement
Act,
or
UIGEA,
the
regulations
that
the
government
has
finally
handed
down
are
inconsistent
and
are
impossible
to
enforce.
They
say
that
they
already
have
checks
in
place
to
limit
the
amount
of
online
gambling
that
is
taking
place,
but
that
the
new
regulations
ask
them
to
adhere
to
specific
rules
that
are
going
to
cost
them
millions
in
fees.
The
Financial
Services
Roundtable,
a
group
that
represents
a
large
number
of
banks
and
financial
institutions,
came
forward
to
let
the
government
know
that
they
would
not
be
able
to
comply
with
the
way
things
were
now.
They
say
that
things
that
are
listed
are
not
their
responsibility
and
that
there
would
be
“significant
costs”
involved
with
trying
to
enforce
the
rules.
They
say
that
the
government
is
asking
them
to
act
as
law
enforcement
agencies,
something
they
are
not
equipped
to
be.
They
say
that
they
take
responsibility
for
the
checks
that
they
already
have
in
place,
and
that
they
cannot
pursue
the
level
of
commitment
that
the
government
is
asking
them
for.
They
say
that
there
is
also
a
problem
with
what
online
gambling
is
allowed
within
the
country
as
opposed
to
outside
of
it.
With
horse
racing
still
being
allowed
in
the
online
gambling
arena,
the
banks
say
that
the
government
needs
to
be
clearer
in
their
definition
of
online
gambling.
Bank
of
America
said
that
with
the
new
regulations
that
have
been
set
forth,
banks
will
have
no
choice
but
to
block
all
transactions
as
they
pertain
to
online
gambling,
which
means
they
will
ultimately
be
blocking
legal
online
gambling
activities
as
well
as
illegal.
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