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The fight for the federal regulations to apply the Internet gambling ban should stop, said four lawmakers in letters sent to the Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson. House Financial Services Committee Chairman Barney Frank, D-Mass., and three other committee members, Reps. Ron Paul, R-Texas; Luis Gutierrez, D-Ill.; and Peter King, D-N.Y. have all signed the letters that were issued to the Federal Reserve.
The letters come after a House hearing where the financial agencies representatives expressed that they were under pressure to write regulations to carry out the online gaming restrictions approved in 2006. Louise Roseman, director of bank operations and payment systems for the Federal Reserve, testified an Internet gambling ban is far from the reality lived by many online sportsbetting users or online poker players in the United Sates. Treasury Department representatives Roseman and Valerie Abend, have agreed the 2006 legislation is unclear.
Congressmen Frank and Paul introduced a bill to prevent the Federal Reserve and Treasury Department from going forward with regulations to implement the Online gambling ban. Congressman Frank has previously introduced a bill to fragment the ban and require the Department of Treasury to regulate gambling
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