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Preemption Gift-Cards

Eversheds Sutherland (US) LLP

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

Ballard Spahr LLP

CFPB issues first preemption determinations

Ballard Spahr LLP on

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

Morrison & Foerster LLP

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

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