September 16 date for Payment System Protection Act

Congressman Barney Frank's latest legislative attempt to bring some precision and sense to the controversial Unlawful Internet Gambling and Enforcement Act 2006 and its ambiguous regulations (see previous InfoPowa reports) has been given a fast ride to a markup session by the House Committee on Financial Services, which Frank chairs.

His HR6870 Payment System Protection Act, which seeks to pin the federal authorities down on key definitions such as "illegal Internet gambling" is scheduled for markup on Tuesday September 16, the committee announced late Friday.

The following bills are on the schedule:

  • H.R. 6694, FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008; 
  • H.R. 6870, Payment System Protection Act; 
  • H.R. 3019, Expand and Preserve Home Ownership Through Counseling Act; 
  • H.R. 6642, National Consumer Cooperative Bank Act Amendments of 2008; and 
  • H.R. 6871, Expedited Funds Availability Dollar Limits Adjustment Act of 2008. 

Interested parties can watch the proceedings here.

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