Electronic Clearing House Inc - Checking clearing company

[richardb]

Oct 11 (Reuters) - Electronic Clearing House Inc. (ECHO.O: Quote, Profile, Research) on Wednesday said a portion of its business and future results of operations will be affected by the recently passed Unlawful Internet Gambling Enforcement Act of 2006.
The company said it will phase out any services related to check processing activities for Internet gaming before the 270-day regulatory determination period expires.
The loss of revenue and net income arising from these services will have a significant negative effect on the company's business and results of operations in fiscal 2007, it added.
The services related to Internet gambling account for less than 10 percent of total revenues, the provider of electronic payment processing solutions said in a statement.
The company said it expects to recover the lost revenue in the coming year. (Reporting by Jennifer Robin Raj in Bangalore)

[richardb]

At least these morons in Congress figured out one thing. Kill the money supply instead of targeting the sites. I think it is going to be such a damn headache to fund an online site that most recreational players wont take the time nor have the patience to deal with it.

Although Neteller says they will serve Americans, I still think they will back out before the 270 day period expires. Probably a lot sooner. No Neteller, no firepay, no credit cards, no echecks. Adios amigos.