Internet gambling regs exempt some transfers

INTERNET GAMBLING REGS EXEMPT SOME TRANSFERS
[SOURCE: Reuters]
Internet gambling regulations proposed by U.S. officials on Monday stopped short of requiring U.S. banks to block checks their customers make to online casinos while forcing banks to halt debit and credit payments. The Treasury Department and the Federal Reserve issued a plan requiring bank policies and procedures that are "reasonably designed to prevent payments being made to gambling businesses in connection with unlawful Internet gambling." The new U.S. regulations would make the banks responsible for blocking credit and debit card payments for online gambling. It also bars bank customers such as online casinos from receiving Internet gambling proceeds. "I think that that's doable," an industry source said of the proposal.
http://www.reuters.com/article/internetNews/idUSN0143096420071001