S2296

13 Dec: Coniglio Measure to Help Gift Cards Reatin Value Recieves Final Legislative Approval

TRENTON – Legislation sponsored by Senator Joseph Coniglio that would require retailers offering gift cards to disclose expiration dates and other conditions on those gift cards at time of purchase and restrict the fees that retailers can charge to gift card holders that carry a balance on the card unanimously passed the full Assembly today.

“There is a basic expectation that a gift card will be treated the same as cash at the store we purchase it from,” said Senator Coniglio, D-Bergen. “However, some retailers have come to use expiration dates and hidden dormancy fees to reduce the value of these cards and increase their profit margins. By the time people start their holiday shopping for next year, they will know the terms and conditions of any gift card so they know exactly what they are buying.”

16 Jun: Senate Commerce Panel Approves Coniglio Measure To Help Gift Cards Retain Value

TRENTON – Legislation sponsored by Senator Joseph Coniglio that would require retailers offering gift cards to disclose expiration dates and other conditions on those gift cards at time of purchase and restrict the fees that retailers can charge to gift card holders that carry a balance on the card passed the Senate Commerce Committee today.

“There is a basic expectation that a gift card will be treated the same as cash at the store we purchase it from,” said Senator Coniglio, D-Bergen. “However, some retailers have come to use expiration dates and hidden dormancy fees to reduce the value of these cards and increase their profit margins. Consumers deserve to know the terms and conditions of any gift card so they know exactly what they are buying.”

26 Jan: Coniglio Introduces Measure To Help Gift Cards Retain Value

TRENTON – Senator Joseph Coniglio introduced new legislation this week that would require retailers offering gift cards to disclose expiration dates and other conditions on those gift card at time of purchase and restrict the fees that retailers can charge to gift card holders that carry a balance on the card.

“When we purchase a gift card for a friend or relative, we expect that card to be treated the same as cash at that store,” said Senator Coniglio, D-Bergen. “However, through the use of expiration dates and dormancy fees retailers are attempting to make an exorbitant profit from these cards.”