New rules for gift cards go into effect

New rules for gift cards go into effect

Federal legislation impacts expiration dates and fees

New rules involving the sale of pre-paid gift cards and incentive offers, including limitations on expiration dates and dormancy fees, went into effect Sunday as a result of federal legislation adopted earlier this year.

The legislation, which affects gift cards sold or issued on or after Aug. 22, is designed to address concerns raised in recent years by consumers, who are increasingly buying gift cards.

For the first half of 2010, the number of restaurant gift cards sold rose 1

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