The New Gift Card Rules


Presented by: Mary Beth Guard and John Burnett

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New disclosures, restrictions, requirements!

March 23, 2010, the Federal Reserve Board announced amendments to Regulation E which mandate new disclosures for gift cards and restrict the fees and expiration dates that can be applied to gift cards. The new rules implement Title IV of the Credit Card Accountability Responsibility and Disclosure Act of 2009, and will be effective on August 22, 2010.

Issuers and sellers of gift certificates, store gift cards and general-use prepaid card will be impacted by the new rules.

The materials and discussion for this webinar will cover -
  • Who's covered by the new rules
  • Definitions of gift certificate, store gift card and general-use prepaid card; Loyalty, award and promotional gift cards; rebate cards
  • Disclosure requirements
  • Special disclosures for loyalty, reward and promotional cards
  • Fee limitations
  • Fee definitions
  • Expiration date restrictions
  • Reloading of cards
  • Replacement of cards
  • Clear and conspicuous standard
  • Implications for similar state laws and regulations
  • How the expiration date provisions impact escheat and abandoned property laws on gift cards
  • Excluded products
In this presentation, you'll get the information you need to ensure that your institution will be in compliance with the new regulatory requirements when they become effective in August.

About the Speakers: Mary Beth Guard has been teaching financial privacy to bankers since the early 1990s and has authored more than a hundred articles on private-related subjects. In addition, she has created privacy cheat sheets and matrices used by thousands of bankers nationwide. Currently serving as Executive Editor of, Mary Beth has had a long and distinguished career, focusing on the banking industry since 1984. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association and General Counsel for the Oklahoma State Banking Department.

John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking, and is also a graduate of the BAI and the Massachusetts Banker Association Schools of Banking.

John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He joined Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company.

John joined Glia Group, Inc., and became a part of the team in June, 2004.

Mr. Burnett was a member of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force, and has served on several ABA and Massachusetts Bankers seminar panels.

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CD-ROM Includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in May 2010. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_giftcard0510
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Thursday 25 March, 2010.

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