"the letter of the law"...is a good question. I don't think any of us will know for CERTAIN; until (and hopefully never) a check is declined. If the banks have drawn up any firm rules yet, I would like to see them. Banks like the US Gov. are huge machines that plod along at their own pace. IMHO
Hopefully this law will never be enforced at any level.
That is a good question. If you walk into a bank with a check from a sportsbook and they know it's a check from a sportsbooks (low chance), are they supposed to tell you to fuck off, we don't process those kinds of checks? Go cash it elsewhere.
It's contrary to all previous banking laws. If an illegal drug deal or any other crime is settled by check, there are no laws on the books that I'm aware of that make it illegal for the banks to process the check.
The really dangerous part of having an unenforceable law like this is, it gives a select few WAY too much power. We all know, if you commit murder in this country, you will probably be caught and prosecuted to the fullest extent of the lawn. Everybody knows this and understands this. The problem with unenforced laws is, if you break them, and even though you are violating some obscure, unknown law, it sets you up for extortion if this becomes known to the wrong element. It's kind of like, the IRS or the police can say, you know, we've been looking the other way on this issue for years but if we ever decided we wanted to, we could. On the other hand, if you'll just play along with this other little problem we have, chances are, your violation of this law would probably continue to be overlooked.
From what I understand, cops can do this sort of thing all day with just about anyone. With all the ridiculous laws that exist in this country, everyone's got some dirty laundry somewhere. At least that's how it works on TV.
That is the kind of bullshit you get with a law that isn't enforced.
Later,
Books Worst Enemy
That is a good question. If you walk into a bank with a check from a sportsbook and they know it's a check from a sportsbooks (low chance), are they supposed to tell you to fuck off, we don't process those kinds of checks? Go cash it elsewhere.
It's contrary to all previous banking laws. If an illegal drug deal or any other crime is settled by check, there are no laws on the books that I'm aware of that make it illegal for the banks to process the check.
The really dangerous part of having an unenforceable law like this is, it gives a select few WAY too much power. We all know, if you commit murder in this country, you will probably be caught and prosecuted to the fullest extent of the lawn. Everybody knows this and understands this. The problem with unenforced laws is, if you break them, and even though you are violating some obscure, unknown law, it sets you up for extortion if this becomes known to the wrong element. It's kind of like, the IRS or the police can say, you know, we've been looking the other way on this issue for years but if we ever decided we wanted to, we could. On the other hand, if you'll just play along with this other little problem we have, chances are, your violation of this law would probably continue to be overlooked.
From what I understand, cops can do this sort of thing all day with just about anyone. With all the ridiculous laws that exist in this country, everyone's got some dirty laundry somewhere. At least that's how it works on TV.
That is the kind of bullshit you get with a law that isn't enforced.
Later,
Books Worst Enemy
I just hope that there is a TREMENDOUS turnout by the American people next Tuesday and that ALL Incumbant Senators are defeated by the challengers in their states. Don't know how many races there , but this would send a LOUD MESSAGE . Doesn't matter which party or candidate--VOTE AGAINST ALL INCUMBANTS Senators. These folks are about serving themselves far more than the public.
Even without our issue here--why do they want to continue to be in office. A fresh approach is needed and all the folks there now are "bought and paid for"!
Even without our issue here--why do they want to continue to be in office. A fresh approach is needed and all the folks there now are "bought and paid for"!
I remember a few years back I took a check into my bank to be deposited....the clerk had a little suspicion and asked what it was about....I mentioned something plausible like selling some stock and she then proceeded to finish the transaction....
Kinda irritated me a bit because I'm a regular customer at that bank and they weren't going to get stiffed, wasn't like I was some stranger trying to cash a check and they had no recourse once I was out the door....
None of their fucking business in the first place trying to pass moral judgements. Do your job in the bank and let the customers decide their own lifestyle and morality level.
Kinda irritated me a bit because I'm a regular customer at that bank and they weren't going to get stiffed, wasn't like I was some stranger trying to cash a check and they had no recourse once I was out the door....
None of their fucking business in the first place trying to pass moral judgements. Do your job in the bank and let the customers decide their own lifestyle and morality level.
Books Worst Enemy
wrote this
"It's contrary to all previous banking laws. If an illegal drug deal or any other crime is settled by check, there are no laws on the books that I'm aware of that make it illegal for the banks to process the check."
This is why there should be a national sales tax as opposed to the IRS. It would not matter where the $$$ came from the gov will get their share.
I also agree that this so called sportsbook law will not fly, this is a billion $$$ bizz and it will survive
JMHO
wrote this
"It's contrary to all previous banking laws. If an illegal drug deal or any other crime is settled by check, there are no laws on the books that I'm aware of that make it illegal for the banks to process the check."
This is why there should be a national sales tax as opposed to the IRS. It would not matter where the $$$ came from the gov will get their share.
I also agree that this so called sportsbook law will not fly, this is a billion $$$ bizz and it will survive
JMHO
