Court Sides with Mall Owner On Bank Gift Card Rules

September 2006
Cards & Payments;Sep2006, Vol. 19 Issue 9, p14
Trade Publication
The article reports on the ruling of the U.S. district court that states cannot regulate fees and expiration dates on network-branded gift cards issued by banks and thrifts regulated by the Office of the Comptroller of the Currency or the Office of Thrift Supervision. The ruling has been issued in August 2006, in a case brought by mall owner Simon Properties Group Inc., wherein it has appeared to give certain issuers of prepaid debit cards a greater latitude in setting fees.


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