• Adoption of Rules Implementing the Gift Card Provisions of the Credit Card Act
  • May 4, 2010 | Author: Susan E. Wells
  • Law Firm: Jaburg Wilk, P.C. - Phoenix Office
  • On March 23, 2010, the Federal Reserve System announced final rules to restrict the fees and expiration dates that apply to gift cards, gift certificates and general-use prepaid cards (collectively, “Gift Cards”). Issuers of Gift Cards are prohibited from imposing expiration dates or dormancy, inactivity or service charges that do not comply with the new regulations.