On Tuesday the U.S. House of Representatives voted to pass Bill HR556, the Unlawful Internet Gambling Funding Prohibition Act, under a suspension of the rules. The bill would make it unlawful for banks, credit card companies, and other financial firms knowingly to transfer money to Internet gambling sites. It would also make it a federal crime to operate an “unlawful Internet gambling” Web site.

Before the bill can become law, it must also be approved by the Senate before Congress adjourns for elections next month, then signed by President Bush. Industry insiders feel this is unlikely to happen. The Senate so far has devoted little time to the issue.

More details from iGamingNews and Reuters/Yahoo.

Sue Schneider, Chairman of the Interactive Gaming Council, issued this statement in response to House passage of the Unlawful Internet Gambling Funding Act.

You can read the full text of the bill here.

Background information on this bill at MSNBC.