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RETAILERS: New Colorado Consumer Protection Law Requires Redemption of Gift Cards with a Cash Value of $5 or Less
On April 29, 2010, Colorado Governor Bill Ritter signed a consumer protection bill which requires gift card issuers to redeem the card, upon request, if the remaining value is $5 or less. In addition, it bans…
The Federal Reserve Board's Final Gift Card Rules for the CARD Act
Recently, the Federal Reserve Board announced the final rules that amend Regulation E to implement the gift card provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (“CARD Act”). The…
Senate to Consider ATM Fee Cap Among Proposed Amendments to Financial Reform Bill
The Senate is expected to soon consider placing a fifty-cent per transaction cap on ATM fees, as an amendment to the financial reform bill . The proposed amendment, introduced last week by Senator Tom Harkin (D-Iowa)…
Representative Boucher Introduces Privacy Legislation
On May 4, 2010, Rep. Rick Boucher (D-VA), the House Energy and Commerce Communications, Technology, and the Internet Subcommittee Chairman, and Rep. Cliff Stearns (R-FL), the Ranking Member of the Subcommittee,…
Senate Begins Debate on Financial Reform Bill
The Senate, after spending last week engaged in procedural battles, will enter full scale debate this week on that chamber’s version of a financial reform package . This morning Congress Daily provided a brief preview…