Gift card issuing banks have gone and pissed off Conn. State Senator Tom Colapietro and he’s on the warpath. I wasn’t aware of this but Connecticut acutally passed a state gift card law with some teeth. The 2005 law prohibits dormancy or inactivity charges on ANY gift cards, including open-loop ones. What is happening now is that Federally chartered banks are issuing open-loop Visa and Mastercard gift cards in Connecticut and claiming the law doesn’t apply to them because they are not state chartered.<\/p>\n
So he’s enrolling the states Senators and Congress people to support federal legilation to make federally chartered banks obey state laws on gift cards. It isn’t exactly a full federal ban on these type of fees, but it is a start. (article<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":" Gift card issuing banks have gone and pissed off Conn. State Senator Tom Colapietro and he’s on the warpath. I wasn’t aware of this but Connecticut acutally passed a state gift card law with some teeth. The 2005 law prohibits dormancy or inactivity charges on ANY gift cards, including open-loop ones. What is happening now […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-197","post","type-post","status-publish","format-standard","hentry","category-legal"],"_links":{"self":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts\/197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=197"}],"version-history":[{"count":2,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts\/197\/revisions"}],"predecessor-version":[{"id":376,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=\/wp\/v2\/posts\/197\/revisions\/376"}],"wp:attachment":[{"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=197"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.giftcardadvocate.org\/news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}