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On March 23, 2010, the Federal Reserve System announced final rules to restrict the fees and expiration dates that apply to gift cards, gift certificates and general-use prepaid cards (collectively, “Gift Cards”). Issuers of Gift Cards are prohibited from imposing expiration dates or dormancy, inactivity or service charges that do not comply with the new regulations:
No Gift Card funds may expire less than five years after the issuance... Read More
