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Message: [QUOTE="zachvac, post: 984276, member: 26306"] MODS: PLEASE STICKY THIS If no one knows yet, the fed recently decided to enforce the UIGEA much more harshly including provisions forcing banks to take more accountability for the transactions coming in with penalties and audits if they think the bank is not doing enough. No you don't have to withdraw immediately, there is a specific provision in the bill that checks from the sites to you is safe. You are not in danger of losing the money already there. What you are in danger from is the new regulations making it either extremely difficult or downright impossible to deposit. If this happens, even if you are a winning player who doesn't see the need to deposit, the biggest problem would be that other fish cannot deposit. As the worst players cannot deposit to play recreationally the marginal losers/break-even players will begin to become losers. As they can't deposit eventually it will only be the really solid good players playing poker. This is game over for poker as a profitable past time for the serious player. This doesn't take effect until January 19th, 2009 (the last day of the Bush administration) and banks cannot be punished for lack of enforcement until December 1st, 2009. But obviously the banks aren't going to wait until November 30th next year to put the regulations in place. Following are the PPA press release and a PPA release on what you can do to fight it: [B]PPA Condemns Finalization of Internet Gaming Regulations[/B] [I]Calls on New Administration, Congress to Overturn Flawed Policy[/I] WASHINGTON, DC. (November 12, 2008) –The Poker Players Alliance (PPA), the leading poker grassroots advocacy group with more than one million members nation-wide, today expressed its extreme disappointment with the last minute finalization of the Unlawful Internet Gambling Enforcement Act (UIGEA) regulations regarding online gambling. “Today’s action finalizes a truly bad public policy – one that even the banks and Federal regulators called unworkable in Congressional testimony,” said PPA Chairman and Former Senator Alfonse D’Amato. “However, the PPA remains optimistic that the new Administration and the new Congress will recognize the failures of UIGEA and will act swiftly in the New Year to overturn this flawed policy.” In April of this year, representatives from leading banks testified before Congress about the “burdensome” and “unworkable nature” of the proposed UIGEA regulations. Even the U.S. Treasury and the Federal Reserve expressed serious concerns about the ability to enforce UIGEA and its impact on our nation’s payment systems. Notwithstanding the skepticism about the efficacy of the UIGEA and the burden it would place on our already strapped financial sector, the Administration, the Treasury and the Federal Reserve dedicated time and resources to get the rules finalized as the first of many Bush Administration “midnight” regulations. Fortunately, several members of Congress, such as House Financial Services Chairman Barney Frank, Senator Robert Menendez and Congressman Robert Wexler among others, recognize the untenable nature of UIGEA and have sponsored legislation to truly address the concerns over online gaming. “We have strong advocates in Congress who recognize the importance of balancing individual freedom and responsibility with the protection of consumers as it relates to online poker,” continued D’Amato. “As such, we believe that in the new political environment UIGEA will be overturned and effective licensing and regulation of online poker will be enacted.” ---------------------------------------------- The Bush administration has chosen to push through its incomplete Unlawful Internet Gambling Enforcement Act (UIGEA) regulations via "lame duck" midnight rulemaking. Fortunately, no one is giving up. We have many avenues for success, and you can all be assured this is being fought at many levels. So, what can we poker players do? Here are the four things we can all do right now: [B]1.) Write to President-elect Barack Obama[/B] Barack Obama also has a new comment site, at [url=http://www.change.gov]Change.gov[/url]. I hope every single one of will post polite, professionally worded comments on this issue to him as well. Some points to consider sharing: [LIST] [*]The Bush administration's last minute, incomplete UIGEA regulations are reckless in that they place unreasonable requirements on our nation’s imperiled financial services industry. Bush was reckless in forcing them on the country in his 11th hour. You should introduce legislation to overturn them. [*]These UIGEA regulations set a dangerous precedent for broader censorship of the Internet by the federal government. [*]The Washington Post, at [URL="http://www.washingtonpost.com/wp-dyn/content/article/2008/11/11/AR2008111102935.html"]http://www.washingtonpost.com/wp-dyn...111102935.html[/URL] , reported that William Wichterman, a recent lobbyist for the National Football League who now works at the White House, played a controversial role in the Bush administration's last-minute effort to implement the UIGEA regulations. His lobbying firm made $2.8 million for these efforts. [*]Banks should not be forced by the federal government to act as law enforcement entities. [*]Poker is a game of skill where players compete against each other. There is no “house” profiting from losing players like in casino games of chance. [*]You should support licensing and regulation of online poker. Congressman Robert Wexler, House Financial Services Committee Chairman Barney Frank, Senator Robert Menendez, and others have sponsored bills that do just that. These bills provide protections for participants with excessive gaming habits. Bush's UIGEA regulations offer these people nothing.[/LIST] [B]2.) Write to the GOP[/B] The GOP has a new comment site, at [url=http://www.republicanforareason.com]RNC: Republican For A Reason[/url]. I hope every single one of will post polite, professionally worded comments on this issue. Some points to consider sharing: [LIST] [*]Federal Internet censorship is not a limited government position, nor is the idea that Americans need the government to protect them from themselves. [*]Banks should not be forced by the federal government to act as law enforcement entities. [*]UIGEA is reckless in that it places unreasonable requirements on our nation’s imperiled financial services industry. [*]Poker is a game of skill where players compete against each other. There is no “house” profiting from losing players as in casino games of chance. [*]The GOP should support licensing and regulation of online poker. Bills currently in Congress provide protections for participants with excessive gaming habits. UIGEA offers these people nothing. [*]The GOP has had an anti-online poker plank in its last three platforms (2000, 2004, and 2008). As a result, rightly or wrongly most Americans associate the party with UIGEA. This position likely costs the party far more votes than it gains. The GOP can no longer afford to give away votes[/LIST] [B]3.) Write to Congress[/B] Go to the PPA autoletter site, at [url=http://capwiz.com/pokerplayersalliance/home/]PPA: Action Center[/url]. In only 60 seconds, you can tell your congressman and both of your senators exactly what you think of UIGEA. [B]4.) Forward this to your friends[/B] This isn’t just about poker. It’s about Internet freedom and freedom in general. Every American should care. [/QUOTE]

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