Federal Reserve Implements Legislation Regarding Effective Dates for Gift Card Rules
August 11, 2010
Circular No. 12236

The Federal Reserve Board has announced its approval of an interim final rule implementing recent legislation modifying the effective date of certain disclosure requirements applicable to gift cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009.

For gift certificates, store gift cards and general-use prepaid cards produced prior to April 1, 2010, the legislation and interim final rule delay the August 22, 2010, effective date of these disclosures until January 31, 2011, provided that several conditions are met.

See press release for full details.

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