13-11-2007 Regulatory watchdog criticizes UIGEA regulations

Just ahead of a congressional hearing that will examine US policies in relation to internet gaming and while a CBS4 investigation revealed how Americans are still able to place their bets online using a credit card as a method of deposit, the Center for Regulatory Effectiveness said the proposed UIGEA regulations are in violation of the Paperwork Reduction Act.

According to the CRE, the Treasury Department did not specify the burden businesses would face to implement the UIGEA nor it provided a record to prove the proposed regulations would reduce the burden on businesses to the extent practical, with a particular emphasis on small businesses, as required by the Paperwork Reduction Act.