Frank serves as the Chairman of the House Financial Services Committee and stated that he also expected measures that enforce UIGEA, which were rushed through during the dying days of the Bush Administration, to be included among measures Congress would look to rescind.
He also declared that the Department of Justice should stop arrresting and prosecuting executives of online gambling firms now that a more liberal political climate pervades following November’s election of Barack Obama.
‘I expect an Obama Department of Justice to be less zealous about locking people up,” Frank told the newspaper.
“These outrageous arrests in transit, they should be stopping that stuff.’
UIGEA makes it illegal for financial institutions to process online gambling transactions and became final on January 19. However, the rules enforcing the legislation are not scheduled for implementation until December, by which time they could have been significantly changed or even done away with.
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