Gift-Cards

News & Analysis as of

Stay Tuned: Connecticut Bill Would Require Cash Refunds of Gift Card Balances

Connecticut may join a number of states that currently require merchants to provide the remaining balances on gift cards to consumers in cash upon request....more

Scammers Continue to Target Customers

There have been numerous reports that West Virginia Attorney General Patrick Morrisey issued a warning to consumers on Monday, January 13, 204, about a Target gift card scam occurring throughout the country on social media...more

Senator Warner introduces prepaid card bill

Despite the CFPB’s plans to issue a proposed regulation concerning prepaid cards this spring, Senator Mark Warner has introduced a bill (S. 1903 ) that would require new disclosures for prepaid cards. The bill, entitled the...more

Unclaimed Property Reporting - Are You In Compliance?

Most states require the holder of “abandoned” or “unclaimed” property to report (and remit) such property after the expiration of a certain number of years (the “holding period”). These “escheat” laws generally apply to any...more

IRS Issues Clarification As To The Taxability Of Gift Card Sales

It has been estimated that annual gift card sales have reached approximately $110 billion as a result of an increase in gift card offerings from financial services firms (for example, American Express, Visa, MasterCard and...more

IRS (Again) Eases Rules for Deferring Income Recognition on Gift Card Sales

An accrual method taxpayer that receives an "advance payment" from the sale of gift cards may defer recognition of the payment in gross income until or to the extent the gift card is redeemed or, to the extent not redeemed,...more

Unclaimed Intangible Property In Canada

Ah, unclaimed intangible property. The route to uniform legislation is far from a straight line and progress is slow....more

New Accounting Rules for Gift Cards Redeemable by Unrelated Entities

IRS modifies rules allowing the deferral method of accounting for advance payments received for the sale of gift cards that are redeemable by an unrelated party. On July 24, the Internal Revenue Service (IRS) released an...more

Advertising Law -- May 31, 2013

A Friendly Reminder from the FTC: You May Be in Trouble - Continuing the countdown to the effective date of the amended Children’s Online Privacy Protection Act Rule, the Federal Trade Commission sent “educational...more

50 State Survey of Gift Card Laws

The National Conference of State Legislatures (NCSL) recently released a chart that provides an overview of state gift card statutory requirements in all US states and territories as of mid-March 2013....more

CFPB issues first preemption determinations

Last week, the CFPB issued final determinations as to whether certain Maine and Tennessee laws relating to unclaimed gift cards are preempted by federal law on gift card expiration dates. The rulings represent the CFPB’s...more

CFPB Uses Novel Interpretation, Increases Compliance Burden for Gift Card Issuers Through its First Preemption Determination

On April 19, 2013, the Consumer Financial Protection Bureau (“CFPB”) announced it was making a determination to preempt a provision of Tennessee unclaimed property law that it deemed inconsistent with the federal Electronic...more

Advertising Law -- Mar 21, 2013

In This Issue: Manatt Advertising Litigation Team Twice Defeats Efforts to Enjoin TurboTax Television Commercials; Sen. Rockefeller Tries Again with Do Not Track; NAD: Price Match Offer by Toys “R” Us Needs a Change;...more

OIG Issues Favorable Advisory Opinion on FQHC Limited Issuance of Gift Cards

In a recent favorable advisory opinion, the OIG reviewed a Federally qualified health center’s (FQHC) proposal to offer $20 grocery store gift cards to certain patients in capitated managed care plans as an incentive for such...more

Advertising News & Analysis - January 10, 2013

In this issue: - Old Rules Still Apply to New Technologies - NAD Says It Won’t Demur Just Because a Regulator OKs Language - Toys“R”Us Settlement Exposes Dark Side of Refund Policies - Hollister Gift Card...more

White v. Hollister Co. Illustrates Importance of Individual Questions in Class Certification

The California Court of Appeals January 3, 2013 decision in White v. Hollister Co. reversed and remanded the trial court’s opinion denying class certification to a class of consumers who claimed that defendant Hollister Co....more

OIG Approves Gift Cards to Encourage Clinical Visits to Health Center

In Advisory Opinion 12-21, the OIG concluded that a Federally qualified health center’s offer of grocery store gift cards to capitated managed care patients would not constitute grounds for the imposition of sanctions under...more

Advertising Law -- Dec 26, 2012

In This Issue: SPECIAL FOCUS: FTC Announces Final Amendments to Children’s Online Privacy Protection Rule; ’Tis the Season for Gift Card Restrictions; NAD Speaks on Indefinite Promotions; FCC: Confirmatory Opt-Out...more

The Gift that Never Stops Giving: Proposed Changes to Federal Gift Card Law

Senator Richard Blumenthal (D-CT) recently introduced S. 3636, the Gift Card Consumer Protection Act of 2012, which would ban expiration dates and specified fees for inactivity or services on gift certificates, store gift...more

The Download: Developments In E-Commerce, Privacy, Internet Advertising, Marketing And Information Services Law And Policy –...

Special Report: Third Circuit NJ Gift Card Law Ruling: New Jersey Retail Merchants Association v. Sidamon-Eristoff If you issue or sell “stored value cards,” colloquially referred to as “gift cards,” in the state of...more

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