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31 U.S.C. § 5361 — Congressional findings and purpose
Federal law — U.S. Code and appendices · legal_authorities
**(a) Findings.—** Congress finds the following:
(1) Internet gambling is primarily funded through personal use of payment system instruments, credit cards, and wire transfers.
(2) The National Gambling Impact Study Commission in 1999 recommended the passage of legislation to prohibit wire transfers to Internet gambling sites or the banks which represent such sites.
(3) Internet gambling is a growing cause of debt collection problems for insured depository institutions and the consumer credit industry.
(4) New mechanisms for enforcing gambling laws on the Internet are necessary because traditional law enforcement mechanisms are often inadequate for enforcing gambling prohibitions or regulations on the Internet, especially where such gambling crosses State or national borders.
**(b) Rule of Construction.—** No provision of this subchapter shall be construed as altering, limiting, or extending any Federal or State law or Tribal-State compact prohibiting, permitting, or regulating gambling within the United States.
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Source location: Title 31, Chapter 53, § 5361; chapter-053-monetary-transactions.md
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**(a) Findings.—** Congress finds the following:
(1) Internet gambling is primarily funded through personal use of payment system instruments, credit cards, and wire transfers.
(2) The National Gambling Impact Study Commission in 1999 recommended the passage of legislation to prohibit wire transfers to Internet gambling sites or the banks which represent such sites.
(3) Internet gambling is a growing cause of debt collection problems for insured depository institutions and the consumer credit industry.
(4) New mechanisms for enforcing gambling laws on the Internet are necessary because traditional law enforcement mechanisms are often inadequate for enforcing gambling prohibitions or regulations on the Internet, especially where such gambling crosses State or national borders.
**(b) Rule of Construction.—** No provision of this subchapter shall be construed as altering, limiting, or extending any Federal or State law or Tribal-State compact prohibiting, permitting, or regulating gambling within the United States.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The President may direct the Secretary of the Treasury to make an agreement with the Federal reserve banks and the Board of Governors of the Federal Reserve System when the President decides that the foreign commerce of the United States is affected adversely because—
(1) the value of coins and currency of a foreign country compared to the present standard value of gold is depreciating;
(2) action is necessary to regulate and maintain the parity of United States coins and currency;
(3) an economic emergency requires an expansion of credit; or
(4) an expansion of credit is necessary so that the United States Government and the governments of other countries can stabilize the value of coins and currencies of a country.
**(b)** Under an agreement under subsection (a) of this section, the Board shall permit the banks (and the Board is authorized to permit the banks notwithstanding another law) to agree that the banks will—
(1) conduct through each entire specified period open market operations in obligations of the United States Government or corporations in which the Government is the majority stockholder; and
(2) buy directly and hold an additional $3,000,000,000 of obligations of the Government for each agreed period, unless the Secretary consents to the sale of the obligations before the end of the period.
**(c)** With the approval of the Secretary, the Board may require Federal reserve banks to take action the Secretary and Board consider necessary to prevent unreasonable credit expansion.
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Federal law — U.S. Code and appendices · legal_authorities
Page 502
TITLE 31—MONEY AND FINANCE
§ 5355
1 So in original. Probably should be followed by a closing pa-
renthesis.
of Federal, State, and local cooperative law en-
forcement and prosecutorial efforts in respond-
ing to such criminal activity.
(Added Pub. L. 105–310, § 2(a), Oct. 30, 1998, 112
Stat. 2948.)
§ 5355. Authorization of appropriations
There are authorized to be appropriated the
following amounts for the following fiscal years
to carry out the purposes of this subchapter:
For fiscal year:
The amount authorized is:
1999 ..............................
$5,000,000.
2000 ..............................
$7,500,000.
2001 ..............................
$10,000,000.
2002 ..............................
$12,500,000.
2003 ..............................
$15,000,000.
2004 ..............................
$15,000,000.
2005 ..............................
$15,000,000.
(Added Pub. L. 105–310, § 2(a), Oct. 30, 1998, 112
Stat. 2948; amended Pub. L. 108–458, title VI,
§ 6102(b), Dec. 17, 2004, 118 Stat. 3745.)
Editorial Notes
AMENDMENTS
2004—Pub. L. 108–458 in table inserted items speci-
fying amounts authorized for fiscal years 2004 and 2005.
SUBCHAPTER IV—PROHIBITION ON FUND-
ING OF UNLAWFUL INTERNET GAMBLING
§ 5361. Congressional findings and purpose
(a) FINDINGS.—Congress finds the following:
(1) Internet gambling is primarily funded
through personal use of payment system in-
struments, credit cards, and wire transfers.
(2) The National Gambling Impact Study
Commission in 1999 recommended the passage
of legislation to prohibit wire transfers to
Internet gambling sites or the banks which
represent such sites.
(3) Internet gambling is a growing cause of
debt collection problems for insured deposi-
tory institutions and the consumer credit in-
dustry.
Source: Supplied 2024 U.S. Code historical extraction · 31 U.S.C. § 5361
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.