S. 3636 · 112th Congress
Gift Card Consumer Protection Act of 2012
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BlumenthalSponsor2 cosponsors · 1 D, 1 I
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Gift Card Consumer Protection Act of 2012 - Amends the Electronic Fund Transfer Act to repeal the exclusion from, and so include within, the definitions of "general-use prepaid card," "gift certificate," and "store gift card" a loyalty, award, or promotional gift card (thus extending to the latter the same consumer protections).
What it does: CRS summary · Introduced in Senate · Nov 26, 2012
Gift Card Consumer Protection Act of 2012 - Amends the Electronic Fund Transfer Act to repeal the exclusion from, and so include within, the definitions of "general-use prepaid card," "gift certificate," and "store gift card" a loyalty, award, or promotional gift card (thus extending to the latter the same consumer protections).
Repeals exceptions to the prohibitions against: (1) imposition of a dormancy fee, an inactivity fee, or a service fee in connection with a gift certificate, store gift card, or general-use prepaid card; and (2) the sale of gift cards with expiration dates. (Thereby renders such fees and expiration dates unlawful without exception.)
Makes it unlawful for a person that has filed for federal bankruptcy protection to either sell, resell, issue, or reissue a gift certificate or store gift card.
Amends federal bankruptcy law to declare that the filing of a petition in bankruptcy shall not operate as a stay against the presentation or redemption of a gift certificate or store gift card at full value.
Requires the trustee in bankruptcy, if the debtor's business is authorized to be operated, unless the court orders otherwise, to: (1) honor at full value a gift certificate or store gift card issued by the debtor, and (2) treat the gift certificate or gift card the same as cash.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Gift Card Consumer Protection Act of 2012
Latest action (Nov 26, 2012): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Nov 26, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.