The laws, regulations, guidelines, and industry practices that protect consumers who use gift cards

Philip Keitel

No 08-07, Consumer Finance Institute discussion papers from Federal Reserve Bank of Philadelphia

Abstract: This paper discusses consumer protections available to gift-card users. Specifically, it examines the ways in which value loaded at the time of purchase is protected for future card use or returned to consumers when the card is not used or has expired. The consumer protection information included in this paper is derived from a number of sources, including several types of state statutes, Federal Trade Commission decisions, financial industry regulatory agency guidelines, and previous interviews with payments industry experts regarding practices concerning network-branded gift cards. This paper expands research begun by the Payment Cards Center in 2004 into prepaid cards generally and the protections available to consumers who use gift cards specifically.

Keywords: Payment; systems (search for similar items in EconPapers)
Date: 2008
New Economics Papers: this item is included in nep-law and nep-reg
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.philadelphiafed.org/-/media/frbp/asset ... 2008JulyGiftCard.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedpdp:08-07

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Consumer Finance Institute discussion papers from Federal Reserve Bank of Philadelphia Contact information at EDIRC.
Bibliographic data for series maintained by Beth Paul ().