Congress passes ban on bank payments to online casinos

September 30, 2006 at 7:45 pm by ojrifkin · More posts about:Business

The Washington Post reports that a measure banning US banks from making payments to online casinos was attached to a Senate port security bill that passed today. The House passed a similar measure earlier this year so the bill awaits presidential approval. The prohibition will not take effect until after a 270 day window for the financial industry to figure out how to prevent transactions to online casinos. Internet gamblers will still be able to use foreign financial institutions. The online casino / card game site GoldenPalace.com/.net is a major sponsor of IFOCE events.

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