Federal Reserve Announces Final Rule Regarding Effective Dates for Gift Card Rules
October 19, 2010
Circular No. 12253

The Federal Reserve Board has announced a 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 specified conditions are met.

See the press release for full details.

Press release offsite