Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (07/14/2010)
* WASHINGTON (7/15/10)--Rep. Dan Maffei’s (D-N.Y.) gift card bill, which will delay the effective date by which retailers must replace gift cards to make them compliant with new regulations in the Credit Card Accountability, Responsibility and Disclosures Act, passed the House Tuesday night. Maffei’s bill requires gift cards to be printed to reflect the CARD Act changes by Jan. 31 instead of the original August 2010 date. “Had retailers been required to destroy all gift cards in stock and reprint new cards by August 2010, they would have destroyed approximately 100 million cards, the equivalent of eight football fields filled 12 feet deep with plastic cards,” Maffei said. “By delaying the effective date until after the 2010 holiday season, we’re giving retailers a chance to clear out their stock while still protecting consumers with the new rules.” Retailers are required to inform consumers that they will not be charged dormancy fees and cards cannot expire, according to a statement on Maffei’s website ...


RSS





print
News Now LiveWire
Cornerstone CU Union Foundation says it's prepared to assist #CUs & their employees affected by severe storms in Arkansas and Oklahoma.
7 hours ago
In 2014,use of remote deposit capture experienced 13% increase to 51%. But checking a balance continued to B the most common mobile activity
7 hours ago
'Fixing Your Finances' part of @PCUA's #iBelong campaign http://t.co/7j6HO1njog @fox43 @Bellco_CU @Members1stFCU
10 hours ago
Home prices outpacing income growth in 3/4 of U.S. markets @RealtyTrac http://t.co/BQR1w4k822
12 hours ago
Refinance #MarchMadness: Refis drive up mid-March mortgage apps: MBA http://t.co/rTUnlJB516
16 hours ago