Fed Issues Final Gift Card Rules

by Mercator Advisory Group 0

The Federal Reserve issued final rules to extend the time gift card issuers have to comply with new disclosure rules that came about as a result of the Card Act. The Gift Card Amendment, which was passed July 27, 2010, allows retailers to sell their current stock of gift cards through January 31, 2011, the current holiday season, as long as certain requirements are met.

The text of the final rule can be found at:

http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20101019b1.pdf