Grace Period for Gift Card Disclosures Now Over

February 8, 2011 — In order to avoid the destruction of over 100 million gift cards that failed to meet the requirements of the 2009 Credit Card Responsibility and Disclosure (CARD) Act, last July Congress passed the ECO-Gift Card Act. For gift cards produced prior to April 1, 2010, the ECO-Gift Card Act extended the effective date for certain mandated disclosures from August 22, 2010 to January 31, 2011.  Now that the delayed effective date has been reached, gift cards, regardless of the date of production, must be in full compliance with all applicable requirements of the CARD Act and the Federal Reserve’s rule implementing the CARD Act.