Sen. Richard Blumenthal is set to unveil a new bill that would prohibit the sale of gift cards with expiration dates or non-use fees.
Currently, federal statute allows for the expiration of gift cards after five years and for the imposition of non-use fees after one year.
“This bill bars absolutely draconian deadlines and abusive fees and charges that unfairly confiscate consumer gift card cash,” Blumenthal, a Democrat, said in a prepared statement. He is scheduled to release the Gift Card Consumer Protection Act this afternoon in West Hartford.
The bill would also prevent companies that file for bankruptcy from selling gift cards and would require them to accept and honor unredeemed cards.