    [United States Statutes at Large, Volume 124, 111th Congress, 2nd Session]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    Public Law 111-209
    111th Congress

    An Act

    To amend the effective date of the gift card provisions of the Credit
    Card Accountability Responsibility and Disclosure Act of
    2009. <>

    Be it enacted by the Senate and House of Representatives of the
    United States of America in Congress assembled,
    SECTION 1. DELAY OF EFFECTIVE DATE.

    Title IV of the Credit Card Accountability Responsibility and
    Disclosure Act, is amended by striking section 403 and inserting the
    following:
    ``SEC. 403. <> EFFECTIVE DATE.

    ``(a) In General.--Except as provided under subsection (b) of this
    section, this title and the amendments made by this title shall become
    effective 15 months after the date of enactment of this Act.
    ``(b) Exception.--
    ``(1) In general.--In the case of a gift certificate, store
    gift card, or general-use prepaid card that was produced prior
    to April 1, 2010, the effective date of the disclosure
    requirements described in sections 915(b)(3) and (c)(2)(B) of
    the Electronic Funds Transfer Act shall be January 31, 2011,
    provided that an issuer of such a certificate or card shall--
    ``(A) comply with paragraphs (1) and (2) of section
    915(b) of such Act;
    ``(B) consider any such certificate or card for
    which funds expire to have no expiration date with
    respect to the underlying funds;
    ``(C) at a consumer's request, replace such
    certificate or card that has funds remaining at no cost
    to the consumer; and
    ``(D) comply with the disclosure requirements of
    paragraph (2) of this subsection.
    ``(2) Disclosure requirements.--The <> disclosure requirements of this subsection are met by
    providing notice to consumers, via in-store signage, messages
    during customer service calls, Web sites, and general
    advertising, that--
    ``(A) any such certificate or card for which funds
    expire shall be deemed to have no expiration date with
    respect to the underlying funds;
    ``(B) consumers holding such certificate or card
    shall have a right to a free replacement certificate or
    card that includes the packaging and materials,
    typically associated with such a certificate or card;
    and

    [[Page 2255]]

    ``(C) any dormancy fee, inactivity fee, or service
    fee for such certificates or cards that might otherwise
    be charged shall not be charged if such fees do not
    comply with section 915 of the Electronic Funds Transfer
    Act.
    ``(3) Period for disclosure requirements.--The notice
    requirements in paragraph (2) of this subsection shall continue
    until January 31, 2013.''.

    Approved July 27, 2010.

    LEGISLATIVE HISTORY--H.R. 5502:
    ---------------------------------------------------------------------------

    CONGRESSIONAL RECORD, Vol. 156 (2010):
    June 14, considered and passed House.
    July 13, considered and passed Senate.