Barney Frank Retires from Congress

December 15, 2011 | News Category: Gaming Law

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Barney Frank, the well known online gambling advocate, has announced that when the next elections take place, he will not be running. Frank has decided that it is time to retire from the United States Congress, where he has served for 16 terms. Frank will continue to fulfill his role in Congress until the upcoming 2012 vote, at which time, he will not be looking to be re-elected.

For the majority of the time that Frank was serving in Congress, he held the position of Chairman of the House Financial Services Committee. While Barney Frank held this prestigious position, he was known to be fairly voal and outspoken on a number of key issues. These important issues included issues surrounding abortion, gay rights, and the fight to regulate and legalize online gambling in the United States.

Frank has fought for the right of US citizens to be able to gamble online, including in online casinos, and other online gambling sites. Frank even authored an online gambling bill known as HR 2267. This online gambling bill was one that would have gotten rid of the UIGEA (Unlawful Internet Gambling Enforcement Act), that has been accepted as law in the United States since 2006. While the UIGEA does not specifically ban online gambling, it certainly does so in practical terms. The UIGEA has made it illegal for financial institutions ot process any funds that are connected with online gambling.

At the press conference at which Frank announced his upcoming retirement, he also noted that even though he would no longer be in Congress, he would still promote the regulation and legalization of Internet gambling. He also noted that he felt that the groundwork to legalize online gambling has already been done, and that, at least, there is an "opening for success."

Frank had discussed his position regarding online gambling when he was on the Jay Leno Tonight Show. He had said that individuals should have the right to decide for themselves whether they would like to gamble online or not. He explained that this should be a right, that individuals should have the right to decide. He has also explained the positive effect that online gambling taxation would have on the United States economy.

President Barack Obama has even praised Frank for his work to help deal with the global financial crisis in 2008. Obama said of Frank that he had helped with "the most sweeping financial reforms in history."