Congress Extends Implementation Data of Final Rule Governing Gift Cards

more+
less-

The Federal Reserve Board recently issued new federal regulations governing the provision of retail gift cards. Specifically, the new Rules amend Regulation E of The Electronic Fund Transfer Act, 15 U.S.C. § 1693, et seq., which, in conjunction with the recently promulgated Credit Card Accountability and Responsibility Disclosure Act of 2009 (the “CARD Act”), requires greater transparency for retailers seeking to impose fees (such as dormancy fees for non-use) and/or expiration dates on users of gift cards. The new Rules, originally slated to take effect on August 22, 2010, apply to both retail cards sold for store credit and cards issued through loyalty or other reward programs.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© David Almeida | Attorney Advertising

Written by:

more+
less-

David Almeida on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×