New Credit Card Law Impacts Retail Gift Cards
The recently enacted credit card legislation, the Credit Card Accountability, Responsibility, and Disclosure Act contains a provision impacting retail gift cards and gift certificates. Specifically, the new law prohibits the imposition a dormancy fee, an inactivity charge or fee, or a service fee with respect to a gift certificate, store gift card, or general-use prepaid card unless certain disclosures are made. Read more.
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