Effective June 1, 2010, government regulations (Reg GG) require that U.S. Eagle Federal Credit Union provide notification to our business members that they must comply with the Unlawful Internet Gambling Act. This notice is not a direct reflection on any specific account activity. It does not affect any non-business accounts at all.
The Unlawful Internet Gambling Act (Reg GG) prohibits U.S. Eagle Federal Credit Union from processing restricted transactions through any of our business accounts. These “restricted transactions” include transmittal of any credit, funds or proceeds that any person in the business of betting or wagering knowingly accepts, in connection with the participation of another person in unlawful internet gambling. It includes credit or the proceeds or the extension of credit (including through credit cards); electronic funds transfers; or a check, draft or similar instrument that is drawn on or payable at or through any financial institution.
For questions, please contact Compliance at 342-8970.