Proposed Gift Card Rule Implementing Credit Card Accountability Responsibility and Disclosure Act of 2009

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On November 20, 2009, the Federal Reserve Board (“Board”) published proposed amendments to Regulation E (“Proposed Rule” or “Rule”) to implement the gift card provisions in the “Credit Card Accountability Responsibility and Disclosure Act of 2009” (the “CARD Act” or “Act”) currently scheduled to become effective on August 22, 2010. The deadline for filing comments is on December 21, 2009.

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Morrison & Foerster LLP on:

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