Bill Would Ban Gift Cards with Expiration Dates
Consumers Union is supporting a bill that would ban gift card with expiration dates
As holiday shoppers plan to load up on gift cards this season, Consumers Union, the advocacy arm of Consumer Reports, has endorsed a bill to ban gift cards with expiration dates and non-use fees. The Gift Card Consumer Protection Act, introduced by U.S. Sen. Richard Blumenthal of Connecticut, would also prevent companies that file for bankruptcy from selling gift cards and require them to accept and honor unredeemed gift cards. Currently, if you get a gift card from a retailer that declares bankruptcy, the prospects of redeeming it range from slim to none. Blumenthal said these protections would significantly strengthen present law, which permits expiration of cards after five years, and non-use fees after one year. The new bill would bar …
High-On-Lehigh
9:56 am on Tuesday, December 11, 2012
Good idea. Thank you, CU, for always working to help out the consumer! more ›