H.R.2143 - Unlawful Internet Gambling Funding Prohibition Act108th Congress (2003-2004)
|Sponsor:||Rep. Bachus, Spencer [R-AL-6] (Introduced 05/19/2003)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||House Report 108-133,Part 1; House Report 108-133,Part 2|
|Latest Action:||06/11/2003 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Major Recorded Votes:||06/10/2003 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.2143 — 108th Congress (2003-2004)All Bill Information (Except Text)
Unlawful Internet Gambling Funding Prohibition Act - Directs Federal functional regulators, within six months of this Act's enactment, to prescribe regulations requiring any designated payment system to establish policies and procedures reasonably designed to: (1) identify restricted transactions by means of code in authorization messages or other means and to block such transactions; and (2) prevent the acceptance of the products or services of the payment system in connection with a restricted transaction. Defines a "restricted transaction" as any transaction or transmittal to anyone engaged in the business of betting or wagering in connection with another person's participation in unlawful Internet gambling of credit, electronic fund transfers, checks, or the proceeds of any other form of financial transaction as regulators may prescribe. Requires such regulators and the Federal Trade Commission to enforce such regulations (under applicable law in the manner provided under the Gramm-Leach-Bliley Act) after considering specified factors concerning the extent of the violation, the history of compliance, and the feasibility and burden of implementing a remedy. Requires regulators to consider exempting restricted transactions if the regulators find that it is not reasonably practical to identify and block, or otherwise prevent, such transactions.
Passed House amended (06/10/2003)
Provides that no provision of this Act shall be construed as affecting any law relating to, affecting, or regulating gambling within the United States.