Banks Balk At Potential Enforcer Role
David Kesmodel reports for the Wall St. Journal about concerns raised by the Independent Community Bankers of America about pending legislation in Congress that "would require financial institutions to block payments between U.S. residents and online casinos." Bankers and the ICBA are concerned that the ACH system provides no information about the nature of a recipients business and "would require a massive – and costly – overhaul to allow banks to identify transactions."
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