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Fed announces new gift card regulations

submitted on March 24, 2010 by YanBz in "Member's Lounge"
The new rules take effect August 22, 2010

Under the new rules, consumers must have at least five years to use the gift cards before they expire. The Fed also says service or inactivity fees can be imposed only under certain conditions.

Such fees can be charged if the consumer hasn't used the card for at least a year, if the consumer is given clear disclosures about them and no more than one fee is charged a month.


http://www.marketwatch.com/sto.....2010-03-23
 

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  • 56810
    siggy38
    deity
    2 11 9
    12 9 2
    Posted by siggy38 on March 24, 2010
    [reply] 6 0
    That's good news , but I never have a gift card long enough to worry.... can't wait to use it!! Twisted
      56855
    • midget
      professor
      5 3 2
      10 6 2
      Posted by midget on March 24, 2010
      [reply] 4 0
      lol Siggy.

      Me thinks money just burns a hole in your pocket Big Grin
  • 56856
    midget
    professor
    5 3 2
    10 6 2
    Posted by midget on March 24, 2010
    [reply] 1 0
    Gift cards never expire in Cali.
  • 56858
    siggy38
    deity
    2 11 9
    12 9 2
    Posted by siggy38 on March 24, 2010
    [reply] 2 0
    No not at all!!! Wink
  • 56859
    deathbynosleep
    teacher
    7 1 1
    Posted by deathbynosleep on March 24, 2010
    [reply] 1 0
    I always forget my gift cards when I go out. I also have at least 50 dollars worth for the movie theater. I haven't gone to the movies in at least 4 years...and do not plan on it.

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