Poker Players Alliance Asks For 1 Year Delay in Enforcing UIGEA

by Lou on October 14, 2009

A petition sent by the Poker Players Alliance (PPA) to US Treasury Secretary Timothy Geithner included a warning that enforcing the provisions of UIGEA would put “an unreasonable burden on regulators and the financial services industry at a time of economic crisis.”

This refers to banks and designated payment systems that will be required to block the movement of funds in and out of online poker sites.

The petition sent to Geithner asks for an extension of one year, from the December 1, 2009 date of compliance to December 2010, before the provisions of UIGEA are to take effect.

The U.S. Treasury Secretary now has 180 days to reply to the petition.

The PPA’s petition was filed jointly with the National Thoroughbred Racing Association and American Greyhound Track Operators Association. Nineteen Congressmen also wrote to Geithner and Federal Reserve chairman Ben Bernanke in support of this petition.

The group of 19 Congressmen includes such heavy hitters as Financial Services Committee chairman Barney Frank (D-MA.), Homeland Security Committee ranking member Peter King (R-NY), Financial Institutions Subcommittee chairman Luis V. Gutierrez (D-IL), Domestic Monetary Policy and Technology Subcommittee chairman Melvin Watt (D-NC), Domestic Monetary Policy Subcommittee ranking member Ron Paul (R-TX) and Oversight Subcommittee ranking member Judy Biggert (R-IL).

Comments on this entry are closed.

Previous post:

Next post: