Keane's Unclaimed Property Blog

Gift Card Escheatment (13 articles)

CFPB Issues Decision on Federal Preemption of State Gift Card Laws

Compliance, Gift Card Escheatment, Public Corporations

On April 19th, the Consumer Financial Protection Bureau (CFPB) issued a formal determination on whether certain state unclaimed property laws as they apply to gift cards, are subject to federal preemption. At issue were the unclaimed gift card laws in place in Maine and Tennessee.  The CFPB’s consideration and determination were the result of requests […]

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Another Gift Card Provider Leaving New Jersey

Compliance, Gift Card Escheatment, State Escheatment

Following the lead of American Express earlier this week, InComm has announced that they will be removing their gift cards from convenience stores, pharmacies, grocery stores, and additional retail outlets across New Jersey. Effective June 30th, InComm’s Vanilla Visa® Gift Card and Vanilla MasterCard® Gift Cards will be pulled from New Jersey shelves. InComm’s decision, […]

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Latest Events in New Jersey Gift Card Act Saga – American Express Pulling Out

Compliance, Gift Card Escheatment, State Escheatment

It’s been a busy couple of weeks in the ongoing saga of the New Jersey Gift Card Act, as the State Assembly recently passed legislation that would reverse the modifications made to the Unclaimed Property laws included as part of the June 2010 budget, specifically the escheatment of gift cards. New Jersey unclaimed property laws currently require that unused […]

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