ABA Not Happy With UIGEA
March 11, 2022
The American Banking Association (ABA), the organization that represents nearly all of the American banking industry, was believed to have a neutral position in regards to the controversial "Unlawful Internet Gambling Enforcement Act" (UIGEA); however, upon closer examination of the ABA's official response (which was submitted in December by Director Richard R. Riese of the ABA's Center for Regulatory Compliance and Nessa Feddis, Senior Federal Counsel) it becomes abundantly clear that the ABA is not at all comfortable with the new legislation, or how it will affect its over two million workers.

The exhaustive 11-page response takes issue with many parts of the new legislation - pointing out numerous areas that are vague, unrealistic, completely undefined, or so poorly conceived as to have "no prospect of practical success."

The strongly-written response from the ABA, shines a harsh light on the UIGEA and gives the definite and seemingly deliberate impression that they believe the UIGEA is "fundamentally flawed" and practically unworkable in its current state.

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