Proposed Changes for Gift Cards
The Federal Reserve has proposed new rules to protect consumers from fees and restrictions on gift cards. Under the new regulations gift cards would not expire for at least five years; and service and inactivity fees would only be allowed under certain conditions.
Unfortunately this won't help anyone who gives or receives gift cards this Christmas. The Fed does not expect these provisions to go into effect until August 22. Source
Unfortunately this won't help anyone who gives or receives gift cards this Christmas. The Fed does not expect these provisions to go into effect until August 22. Source
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