[United States Statutes at Large, Volume 124, 111th Congress, 2nd Session]
[From the U.S. Government Printing Office, www.gpo.gov]


Public Law 111-209
111th Congress

An Act


 
To amend the effective date of the gift card provisions of the Credit
Card Accountability Responsibility and Disclosure Act of
2009. <>

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. DELAY OF EFFECTIVE DATE.

Title IV of the Credit Card Accountability Responsibility and
Disclosure Act, is amended by striking section 403 and inserting the
following:
``SEC. 403. <> EFFECTIVE DATE.

``(a) In General.--Except as provided under subsection (b) of this
section, this title and the amendments made by this title shall become
effective 15 months after the date of enactment of this Act.
``(b) Exception.--
``(1) In general.--In the case of a gift certificate, store
gift card, or general-use prepaid card that was produced prior
to April 1, 2010, the effective date of the disclosure
requirements described in sections 915(b)(3) and (c)(2)(B) of
the Electronic Funds Transfer Act shall be January 31, 2011,
provided that an issuer of such a certificate or card shall--
``(A) comply with paragraphs (1) and (2) of section
915(b) of such Act;
``(B) consider any such certificate or card for
which funds expire to have no expiration date with
respect to the underlying funds;
``(C) at a consumer's request, replace such
certificate or card that has funds remaining at no cost
to the consumer; and
``(D) comply with the disclosure requirements of
paragraph (2) of this subsection.
``(2) Disclosure requirements.--The <> disclosure requirements of this subsection are met by
providing notice to consumers, via in-store signage, messages
during customer service calls, Web sites, and general
advertising, that--
``(A) any such certificate or card for which funds
expire shall be deemed to have no expiration date with
respect to the underlying funds;
``(B) consumers holding such certificate or card
shall have a right to a free replacement certificate or
card that includes the packaging and materials,
typically associated with such a certificate or card;
and

[[Page 2255]]

``(C) any dormancy fee, inactivity fee, or service
fee for such certificates or cards that might otherwise
be charged shall not be charged if such fees do not
comply with section 915 of the Electronic Funds Transfer
Act.
``(3) Period for disclosure requirements.--The notice
requirements in paragraph (2) of this subsection shall continue
until January 31, 2013.''.

Approved July 27, 2010.

LEGISLATIVE HISTORY--H.R. 5502:
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CONGRESSIONAL RECORD, Vol. 156 (2010):
June 14, considered and passed House.
July 13, considered and passed Senate.