The Delaware Supreme Court gave Overstock.com a win in a False Claims Act (FCA) suit alleging the retailer failed to remit unclaimed gift card funds to the state. Overstock.com Inc. v. the State of Delaware and French, DE...more
The Delaware Superior Court recently issued a final order against Overstock.com for violating Delaware’s Abandoned and Unclaimed Property Law and False Claims and Reporting Act by failing to report and remit nearly $3 million...more
Colorado has joined the list of states updating their unclaimed property laws by adopting a version of RUUPA that repeals its existing $25 reporting deduction but preserves the state’s existing treatment of gift cards. Our...more
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
The 2016 Uniform Unclaimed Property Act (2016 Act) was adopted unanimously by the Uniform Law Commission (ULC) in a 49-0 vote at its 2016 summer meeting. The adoption of the revised model law is a significant step forward for...more
Two years ago, a former employee of Card Fact, LLC (subsequently purchased by Card Compliant), a company providing gift card issuance and management services to retailers, filed a false claims action in Delaware alleging that...more
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
In its first preemption determination, on April 19, 2013, the Consumer Financial Protection Bureau (CFPB) ruled that Tennessee's unclaimed property statute provisions applicable to gift cards are preempted by federal law. The...more
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
In August, the CFPB issued a notice seeking public comment on its plans to determine whether certain provisions of Maine and Tennessee laws relating to unclaimed gift cards are preempted by federal law on gift card expiration...more