Something More to be Thankful For: A Six Month Delay Expected for Implementing UIGEA

by Lou on November 25, 2009

On Friday, the day after Thanksgiving, Rep. Barney Frank (D-MA) (pictured right) plans to make a statement that US Treasury Secretary Timothy Geithner will delay the compliance date for the Unlawful Internet Gambling Enforcement Act by six months. It’s a compromise of sorts; the Poker Players Alliance’s petition and Rep. Frank were both pushing for a one year delay.

The Poker Players Alliance is refusing comment until official word comes from either Barney Frank or the Treasury Department. But Joe Brennan, chairman of the Interactive Media Entertainment and Gaming Association, said he heard from a party to the agreement that Geithner will grant a six-month delay—an eleventh hour reprieve—since December 1 is the date when banks and financial institutions would be required to block “illegal Internet gambling transactions.”

Brennan was surprised at the concession, saying, “It’s very unusual for any department of the government to essentially forestall an act of Congress. This is a testament to the power of Congressmen Frank. This has been his pet issue, because it is part of his core values, for some time now. If Barney Frank was not an advocate, this does not get done regardless of the efforts of the PPA and the banking industry.”

Frank already scheduled a December 3 House Financial Services Committee hearing to discuss his two poker-related bills. One of them, the Reasonable Prudence in Regulation Act, asks for a delay in implementing UIGEA until Dec. 1, 2010. If the delay wasn’t as near to a sure thing as one can expect in politics, why would a hearing be scheduled three days after UIGEA was to take effect?

When you dig into that turkey dinner, think about this for a moment. This delay is a step in the right direction, and just a little something else to be thankful for.

{ 1 comment }

Doug November 29, 2009 at 5:12 pm

It's clearly a move in the right direction, but i just hate the fact that the whole thing is not settled by now.

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