3.0.0 2969 2023-01-14T22:48:34Z 2023-01-14T22:48:34Z Senate S S 2004-10-09 108 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2004-10-09T18:54:10Z 2004-10-09 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10986-10987) IntroReferral 2004-10-09 Introduced in Senate IntroReferral 10000 9 Library of Congress S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. N Finance and Financial Sector Automated teller machines Commerce Consumer education Consumer protection Electronic funds transfers Fees Gifts Restrictive trade practices Retail trade Science, Technology, Communications Finance and Financial Sector 00 2004-10-09 Introduced in Senate 2004-11-18T15:47:34Z Fair Gift Card Act - States it is unlawful for any person to impose a dormancy fee, inactivity charge or fee, or a service fee with respect to a gift certificate, store gift card, or general-use prepaid card.

Exempts from this prohibition any such charge or fee if: (1) the certificate or card has a remaining value of $5 or less at the time the charge or fee is assessed; (2) the charge or fee does not exceed $1; (3) there has been no activity with respect to the certificate or card for at least the last 24 months; (4) the holder of the certificate or the card may reload or add value to the certificate or the card; and (5) specified charge or fee disclosure requirements have been met.

Declares it is unlawful to sell or issue a gift certificate, store gift card, or general-use prepaid card that is subject to an expiration date unless the date is not less than five years from the date the card is purchased and the expiration terms are prominently disclosed in specified font size and in all capital letters.

States that a violation of this Act shall be treated as a violation of a rule defining an unfair or deceptive act or practice prescribed under the Federal Trade Commission Act.

]]> Fair Gift Card Act Display Title Fair Gift Card Act Official Title as Introduced A bill entitled the "Fair Gift Card Act". Introduced in Senate IS Short Titles as Introduced Fair Gift Card Act Introduced in Senate 2004-10-09T04:00:00Z 2004-10-09 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10986-10987) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.