Analyzed Checking makes sense for businesses striving for operational efficiency.
- Improved cash management
- Earnings Credit can decrease your service charges
- Easier budgeting
- Simpler access to your accounts
- Timely account information
The Unlawful Internet Gambling Enforcement Act (UIGEA), signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Dept of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful internet gambling means to "place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made."
As a member of Kinecta Federal Credit Union, these restricted transactions are prohibited from being processed through your accounts or banking relationship with us. The prohibition became effective on June 1, 2010.