New California Law Requires GIft Card Redemptions
Kathleen Pender writes for the San Francisco Chronicle about a new California state law, SB250, that takes effect on January 1st requiring retailers in California "to redeem unused or partially used gift cards or certificates for cash when the value on the card is less than $10." Pender also notes that the law "does not apply to cards that can be used at multiple retailers, such as those issued by malls or ones with a card-company logo such as Visa, MasterCard, American Express or Discover. Federal law covers those."
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