Gift-Cards

News & Analysis as of

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

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

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

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?

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

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

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

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

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

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

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

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

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

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

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

Store Credits Not Subject to Unclaimed Property, Says California Court

In a decision with potentially broad implications, a California Superior Court has held that merchandise credits not redeemable for cash are not subject to California's Unclaimed Property Law (UPL). The court also held that...more

CFPB Notes Increase in Prepaid Card-Related Consumer Complaints in Monthly Snapshot; Lessons Gleaned

It’s been a couple months now, so you probably saw the CFPB’s Monthly Complaint Snapshot for November 2015, released in December. The product spotlight for November was money transfers. Notably, however, the CFPB also...more

Restructuring eNewsletter - Global Insight Series: Are gift card holders receiving better treatment in situations of insolvency?...

According to the UK Gift Card & Voucher Association, in 2014 the gift card and voucher market was worth £5.4 billion in the UK and $124 billion in the US. Gift cards can confer numerous benefits on the retailer,...more

Debate Over Unclaimed Property Continues Before the Uniform Law Commission Drafting Committee

Proposed revisions to the Uniform Unclaimed Property Act were under debate this past week in Washington, DC as the Uniform Law Commission (ULC or Commission) Committee to Revise the Uniform Unclaimed Property Act (Drafting...more

Retail Industry EMV Compliance Deadline Arrives Today - Credit Card Fraud Liability Shifts

Starting today, October 1, 2015, a substantial portion of the liability associated with in-store fraudulent credit card purchases shifts from credit card issuers, such as banks or credit unions, to retail merchants. Credit...more

Advertising Law - August 2015 #3

Ad Group to FTC: Keep Right to Be Forgotten Out of U.S. - Responding to a petition filed by Consumer Watchdog with the Federal Trade Commission seeking an expansion of the “Right to Be Forgotten” to the United States,...more

Lender’s Allegedly “One-Sided” Gift Card Arbitration Clause Questioned

On August 6, 2015, a California federal judge requested further briefing on whether the arbitration clause in a lender’s Visa gift card user agreement may be unenforceable against a putative class action plaintiff – raising...more

Advertising Law - July 2015 #2

EPIC Drives Uber Complaint to FTC - Uber’s recent legal woes continue. The Electronic Privacy Information Center (EPIC) challenged the ride-sharing company’s new privacy policy and requested that the Federal Trade...more

Texas Renews Efforts to Require Cash Redemption of Certain Stored Value Cards

Texas renews effort to require that certain stored value cards be redeemable for cash if the balance on the card is less than $2.50. In early March, Texas House Bill 2391 was introduced. It would require a cash refund...more

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