News & Analysis as of

Gift-Cards

5 Key Takeaways: Unclaimed Property – Escheatment by Any Other Name

Kilpatrick Townsend partner David Posner recently hosted a webinar addressing recent developments in the growing area of unclaimed property concepts and state requirements. Mr. Posner focuses his practice on bankruptcy and...more

Illinois General Assembly Stealthily Enacts Version of Revised Uniform Unclaimed Property Act

by Alston & Bird on

In an unexpected development, Illinois has adopted a modified version of the 2016 Revised Uniform Unclaimed Property Act (RUUPA) as part of the General Assembly’s effort to enact a state budget. The Illinois Act was added to...more

Illinois Unclaimed Property Law Substantially Revised As Part of Revenue Package Supporting Illinois Budget

by McDermott Will & Emery on

July 6, 2017, the Illinois House of Representatives voted to override Governor Bruce Rauner’s veto of Senate Bill (SB) 9, the revenue bill supporting the State’s Fiscal Year (FY) 2017-2018 Budget. Just days before the vote,...more

Advertising Law - July 2017

Court Rules That ADA Applies to Website - In what is believed to be the first court to hold a trial on the applicability of the Americans with Disabilities Act (ADA) to a retailer’s website, a federal court judge in...more

Illinois Stealthily Enacts Version of RUUPA as Part of Budget Bill

by Alston & Bird on

This week, the Illinois General Assembly enacted budget legislation (SB 9) to much fanfare. Although most news stories will likely focus on the fact that the state has a budget for the first time in several years, the real...more

CFPB proposes further changes to the Prepaid Account Rule in response to industry feedback

by Ballard Spahr LLP on

As we previewed earlier this year, the CFPB, on June 15, proposed substantive changes to the Prepaid Final Rule (the “Rule”). The proposed changes are generally positive for prepaid providers and incorporate feedback and...more

Washington — B&O Taxation of Unredeemed Gift Cards

by Perkins Coie on

The Washington State Department of Revenue has just issued a draft Excise Tax Advisory (“ETA”) (will be hyperlinked to the attached document) in which it concludes that unredeemed gift card receipts (e.g., breakage) which are...more

Illinois UP Bill Would Retroactively Require Reporting of Gift Cards and B2B Transactions

by McDermott Will & Emery on

Earlier this year, an unclaimed property rewrite bill (HB 2603) was introduced in the Illinois House that would require holders to retroactively report a number of property types currently exempt. The provision would require...more

Delaware Proposes Unclaimed Property Regulations – No April Fools

by McDermott Will & Emery on

On Saturday, April 1, 2017, the Delaware Department of Finance (DOF) promulgated two regulations that would repeal all existing unclaimed property regulations and replace them with a single DOF regulation containing a revised...more

Attempt to Block Unclaimed Property Gift-Card Audit Again Rejected by Delaware Federal Court

Marking its second decision on the issue, the Delaware federal district court has held that the U.S. Supreme Court’s priority rules governing the distribution of unclaimed property among competing states do not apply to...more

Unclaimed Property Gift Card Legislation to Watch

by McDermott Will & Emery on

Most states are well off to the races with their 2017 legislative sessions and several states have gift card legislation pending that would impact unclaimed property holders....more

Relax, Sixth Circuit Opinion Indicates Rule 9(b) Pleading Requirement Still Has Bite

by Bass, Berry & Sims PLC on

A recent Sixth Circuit opinion in U.S. ex rel. Hirt v. Walgreen Co. should come as welcome news for FCA defendants concerned about the implications of the Sixth Circuit’s application last year, for the first time, of a...more

Breaking News: Unclaimed Property Legislation Passes Delaware General Assembly

by McDermott Will & Emery on

On January 26, 2017, the Delaware House approved comprehensive unclaimed property rewrite legislation (SB 13) that was passed by the Senate (with committee amendments) last week. Our summary of many of the key provisions of...more

Delaware Unclaimed Property Legislation – Lipstick on a Pig?

by McDermott Will & Emery on

The Delaware General Assembly has introduced legislation that would significantly rewrite the Delaware unclaimed property statute by repealing the three current subchapters and replacing them with a single unclaimed property...more

New York Looks to Further Restrict Gift Card Practices

by Alston & Bird on

In December, we wrote about a new gift card law in New York that took effect on Christmas day, which was enacted by Senate Bill S. 4771-E. Under that now-effective law: - Gift card issuers are prohibited from charging a...more

New York Puts Coal in Gift Card Issuers’ Stockings with New Rules

by Alston & Bird on

On September 26, 2016, New York Governor Andrew Cuomo signed legislation amending Section 396-i of the New York General Business Law to provide additional restrictions and limitations applicable to the issuance of gift...more

New Executive Branch Gift Rules Released: New Action Required Before Executive Officials Can Attend Banquet Dinners

by K&L Gates LLP on

The Office of Government Ethics (OGE), the agency within the executive branch that oversees conflict of interest compliance, recently published revised gift rules applicable to executive branch employees that become effective...more

Stored Value Facilities : Changing the fintech landscape in Hong Kong

by Bryan Cave on

Hong Kong’s financial technology market is constantly evolving with the introduction of non-traditional and digital payment and settlement facilities. On 25th August 2016 the first five licences were issued by the Hong Kong...more

The CFPB’s Final Prepaid Account Rule

by Davis Wright Tremaine LLP on

On October 13, the DWT Payments team briefed the Consumer Working Group of the Financial Services Roundtable (FSR) on the CFPB’s final prepaid account rule. The presentation focused on the following topics: - Scope of...more

Delaware Bankruptcy Court Rules Gift Cards Not Eligible for Priority Treatment

by Seyfarth Shaw LLP on

Decision clarifies standards for priority treatment under section 507(a)(7); important implications in retail bankruptcy cases for debtors, creditors - and consumers Overview - In October 2015, City Sports, Inc....more

Gift card litigation: Recent developments

by Dentons on

Many retailers and shopping centre landlords use gift cards to build brand loyalty. These prepaid purchase cards come in a variety of types. They can be reloadable or not. They may be “open-loop” stored-value cards that can...more

Retailers, Take Note: Connecticut Adds New Gift Card Cash-Back Requirements

by Alston & Bird on

On June 9, Connecticut Governor Dan Malloy signed into law HB 5564, which adds Connecticut to the growing list of states that require gift card sellers or issuers to provide cash back to consumers in certain partial...more

Unclaimed Property Litigation Update – Spring 2016

by McDermott Will & Emery on

Litigation over unclaimed property rules and obligations continues to accelerate. The first quarter of 2016 brought developments in several cases, including a much-watched contest over merchandise credits and a new battle...more

Please Hang Up: Court Dismisses Certified Prepaid Wireless Services Class Action Contract, Gift Card Regulation Claims

In Sankar v. Bell Mobility Inc., the Ontario Court of Appeal (Court) granted summary judgment dismissing a certified class action against Bell Mobility Inc. (Bell) related to prepaid wireless services credits. The Court found...more

Don’t Look a Gift Card in the Mouth: Beware of Liability Under the Electronic Fund Transfers Act

by K&L Gates LLP on

Many of us have had a similar experience. We receive a gift card, put it in a “safe” place with other gift cards, and forget it exists. Inevitably, we uncover the gift card and find ourselves asking questions such as: Does...more

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