Saying credit unions would face additional compliance burdens, CUNA and NAFCU urged lawmakers to enact legislation to delay the implementation of a ban on Internet gambling for one year.
CUNA President/CEO Dan Mica wrote that the ban, which took effect on Tuesday, said their concerns with it focus on the "technological limitations and statutory ambiguity." He said the added burdens would "divert credit unions from their intended purpose of providing financial services to their members."
NAFCU President/CEO Fred Becker said the ban, "effectively deputizes credit unions and other financial institutions to guard against financial crimes."
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