Submitted by SKurt75 on Thu, 04/28/2011 - 09:33
Posted in
I understand there's Massachusetts law about gift cards and gift certificates dealing with expiration dates, but I'm wondering if there is also some federal law that might offer additional protection about expiration dates. In other words, could the federal law require businesses to provide longer expiration dates for the cards? I know this forum deals with MA law, but thought you might have some information on this. Thanks.
Gift cards and certificates
There are some federal regulations (12 CFR pt. 205) that deal with gift cards and certificates. But, with respect to expiration dates, the federal law requires that the cards be good for at least five years, while Massachusetts law requires gift cards and certificates to be valid for at least seven years. The new federal regulations also restrict dormancy, inactivity, or service fees for gift cards or gift certificates. Hope that helps.