Rep. Barney Frank said he will introduce a bill to reverse the UIGEA legislation this Thursday. Representative Frank currently chairs the House Financial Services Committee.
"Why anyone thinks it is any of my business why some adult wants to gamble is absolutely beyond me," Frank stated in a speech before the Independent Community Bankers of America.
Frank will hold a press conference at the Rayburn House Office Building on Thursday, April 26, 2007 at 10:00am to discuss the introduction of the new bill, the Internet Gambling Regulation & Enforcement Act of 2007.
The UIGEA was passed by Congress in October last year and effectively makes internet gambling illegal by preventing US banks to process transactions associated with offshore internet gambling companies.
Details of the new anti UIGEA bill are not available at this time.