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Douglas Gansler Quoted in the MarketWatch article, "Big Banks Weigh Halt to Taking Fantasy Cash from FanDuel, DraftKings"

Douglas F. Gansler

Douglas Gansler was quoted in Francine McKenna's MarketWatch article, "Big Banks Weigh Halt to Taking Fantasy Cash from FanDuel, DraftKings," on November 12, 2015.

Daily fantasy sports wagering sites DraftKings and FanDuel are saying they’re going to fight the order from New York Attorney General Eric Schneiderman to stop activities in the Empire state, but the more pertinent question is whether their payment processors are also up for a battle.

The two private companies’ main banks, and the banks and payment processors who hold deposits and pay out winnings via PayPal and credit cards must now decide whether to continue their relationship with DraftKings and FanDuel now that Schneiderman has accused them of leading “a massive, multi-billion-dollar scheme intended to evade the law and fleece sports fans across the country.” 

“These companies will put their banks and payment processors in a tough spot,” added Doug Gansler, the former attorney general of Maryland and also an attorney with Buckley Sandler, “if they choose to defy the attorney general and continue to operate in New York while fighting this order.”