Democrat says expect online gambling bill Thursday

(X-post from General board)

WASHINGTON (Reuters) - House Financial Services Committee Chairman Barney Frank on Wednesday said he will introduce a bill this week to lift a ban on online gambling.

"Why anyone thinks it is any of my business why some adult wants to gamble is absolutely beyond me," Frank told a community bankers group conference.

Frank, a Massachusetts Democrat, said he will introduce the legislation on Thursday.

Internet gambling in the United States was effectively banned last October when President George W. Bush signed legislation outlawing gaming financial transactions.

The ban irked some in the European Union, which is home to online gambling companies that were forced to withdraw from the United States.