October 19, 2010

Federal Reserve announces final rule regarding effective dates for gift card rules

For immediate release

The Federal Reserve Board on Tuesday announced a final rule implementing recent legislation modifying the effective date of certain disclosure requirements applicable to gift cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009.

The rule finalizes an interim final rule published in the Federal Register on August 17, 2010. For gift certificates, store gift cards, and general-use prepaid cards produced prior to April 1, 2010, the legislation and interim final rule delay the August 22, 2010 effective date of these disclosures until January 31, 2011, provided that several specified conditions are met.

The Board's notice is attached.

Federal Register notice: HTML | 66 KB PDF

Last Update: October 19, 2010