Gift Cards Can't Expire for 5 Years

Feds issue new protections for consumers
By Newser Editors and Wire Services
Posted Mar 23, 2010 3:18 PM CDT
Gift Cards Can't Expire for 5 Years
A file photo of gift cards.   (Nati Harnik)

The Federal Reserve issued new rules today to protect Americans from getting stung by unexpected fees or restrictions on gift cards. Under the rules, consumers must have at least five years to use the cards before they expire. Services fees can go into effect only after the first year, and only one such fee can be imposed a month. The rules take effect in August. (More gift cards stories.)

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