Congressman Barney Frank is on record as saying that a much-anticipated bill to overturn the U.S. ban on Internet gambling will be introduced next week

A bill that would overturn the U.S. ban on Internet gambling is scheduled to be introduced next week, this according to a statement U.S. Congressman Barney Frank made at a financial conference earlier this week.

"We'll be introducing it next week and I plan to move on it," Frank said Tuesday while speaking at the Reuters Global Financial Regulation Summit in Washington, D.C.

Frank, who is chairman of the Financial Services Committee of the U.S. House of Representatives, said the bill is being drafted this week and is expected to overturn aspects of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) that make it illegal for banks to conduct business with online gambling sites and repeal efforts by the outgoing Bush Administration to enforce UIGEA.

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