2006, ISBN: 9781234351687

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 30 pages. Original publisher: Washington : U. S. G. P. O. : For sale by the Supt. of Docs. , U. S. G. P. O. , 2… More...

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 30 pages. Original publisher: Washington : U. S. G. P. O. : For sale by the Supt. of Docs. , U. S. G. P. O. , 2006-. LC Number: KF32 . F55 2006b OCLC Number: (OCoLC)66526291 Subject: Internet gambling -- Law and legislation -- United States. Excerpt: . . . 15 financial transaction providers. Because the cost of the mandates would depend on regulations to be prescribed under the bill, CBO cannot determine whether the direct cost to comply with those mandates would exceed the annual threshold established by UMRA for private-sector mandates ( 128 million in 2006, adjusted annu-ally for inflation ). The bill would require the Secretary of the Treasury and the Board of Governors of the Federal Reserve System, in consultation with the Attorney General, to prescribe regulations that would re-quire financial transaction providers to identify and block re-stricted transactions in connection with unlawful Internet gam-bling through the establishment of reasonable policies and proce-dures. Such requirements would impose private-sector mandates on certain financial entities. Under the bill, the term financial trans-action providers means creditors, credit card issuers, financial in-stitutions, or other payment networks that utilize a designated payment system. Such systems would be determined by regulation. The cost for financial transaction providers to comply with those mandates would depend on the regulations to be prescribed. Infor-mation from representatives of the financial services industry indi-cates that electronic transactions can currently be identified and blocked through the use of a coding system. If the regulations apply only to those transactions, based on information from indus-try and government sources, CBO expects that the cost of the man-dates would fall below UMRAs annual threshold. However, if the regulations also include the requirement for banks to identify and block checks or similar paper instruments used in a restricted transaction, the direct cost to co. . . This item ships from La Vergne,TN., RareBooksClub<