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[111th Congress Public Law 209]
[From the U.S. Government Printing Office]

[[Page 124 STAT. 2254]]

Public Law 111-209
111th Congress

                                 An Act

 
 To amend the effective date of the gift card provisions of the Credit 
        Card Accountability Responsibility and Disclosure Act of 
              2009. <<NOTE: July 27, 2010 -  [H.R. 5502]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. DELAY OF EFFECTIVE DATE.

    Title IV of the Credit Card Accountability Responsibility and 
Disclosure Act, is amended by striking section 403 and inserting the 
following:
``SEC. 403. <<NOTE: 15 USC 1693l-1 note.>> EFFECTIVE DATE.

    ``(a) In General.--Except as provided under subsection (b) of this 
section, this title and the amendments made by this title shall become 
effective 15 months after the date of enactment of this Act.
    ``(b) Exception.--
            ``(1) In general.--In the case of a gift certificate, store 
        gift card, or general-use prepaid card that was produced prior 
        to April 1, 2010, the effective date of the disclosure 
        requirements described in sections 915(b)(3) and (c)(2)(B) of 
        the Electronic Funds Transfer Act shall be January 31, 2011, 
        provided that an issuer of such a certificate or card shall--
                    ``(A) comply with paragraphs (1) and (2) of section 
                915(b) of such Act;
                    ``(B) consider any such certificate or card for 
                which funds expire to have no expiration date with 
                respect to the underlying funds;
                    ``(C) at a consumer's request, replace such 
                certificate or card that has funds remaining at no cost 
                to the consumer; and
                    ``(D) comply with the disclosure requirements of 
                paragraph (2) of this subsection.
            ``(2) Disclosure requirements.--The <<NOTE: Notice. Web 
        posting.>> disclosure requirements of this subsection are met by 
        providing notice to consumers, via in-store signage, messages 
        during customer service calls, Web sites, and general 
        advertising, that--
                    ``(A) any such certificate or card for which funds 
                expire shall be deemed to have no expiration date with 
                respect to the underlying funds;
                    ``(B) consumers holding such certificate or card 
                shall have a right to a free replacement certificate or 
                card that includes the packaging and materials, 
                typically associated with such a certificate or card; 
                and

[[Page 124 STAT. 2255]]

                    ``(C) any dormancy fee, inactivity fee, or service 
                fee for such certificates or cards that might otherwise 
                be charged shall not be charged if such fees do not 
                comply with section 915 of the Electronic Funds Transfer 
                Act.
            ``(3) Period for disclosure requirements.--The notice 
        requirements in paragraph (2) of this subsection shall continue 
        until January 31, 2013.''.

    Approved July 27, 2010.

LEGISLATIVE HISTORY--H.R. 5502:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 156 (2010):
            June 14, considered and passed House.
            July 13, considered and passed Senate.

                                  <all>
```