Flaws in Internet Gambling Law Subject of Upcoming Congressional Hearing

Congressman Barney Frank (D-MA), chairman of the House Committee on Financial Services, will hold a hearing in early April to explore the burden on U.S. financial institutionsto comply with the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). The law was intended to deter illegal Internet gambling activity.Meanwhile, support for legislation that would regulate Internet gambling continues to gain momentum as Congressman George Miller (D-CA), one of themost influential members of Congress, signed on last week as a co-sponsor of the bill introduced by Congressman Frank.