The Federal Reserve Board has released a new online publication to help consumers better understand how to protect themselves against harmful gift card practices.
What You Need to Know: New Rules for Gift Cards is the third publication in a series designed to explain Board regulations to consumers in an easy-to-understand format. This publication describes the types of cards that are covered under gift card rules released last month and highlights key protections, including new limits on expiration dates, requirements for clear fee disclosures and fee restrictions.
The Board's new rules help ensure that consumers who give or receive gift cards are not surprised by expired cards and are protected from certain fees that reduce their value.
See press release for full details.
