Regulating Gift Cards

                    

“You’ve got to wonder if these exemptions are just another case of industry lobbyists overriding the interests of consumers.“ (source: Bruce Cran; Consumers Assoc.)

Ontario Consumer Protection Act changes took effect 2007/10/01. Prior to that, the McGuinty Liberals heralded the coming changes. But now they’re strangely quiet about the loopholes.

Under the new rules, gift cards can’t be sold with a transaction fee, can’t expire, and shoppers can’t be penalized if they don’t spend their credit immediately.

But… shopping malls are excempted for now. And loyalty cards (where you accumulate points), and prepaid phone cards…

Links:
2007/05/29 - CTV: Ontario government bans gift card expiry dates
2007/05/29 - City News: Ontario Sets Day For End Of Gift Card Expiry Dates
2007/11/14 - Toronto Star: Unredeemed gift cards a present for retailers
2007/12/05 - Globe&Mail: Some Ontario gift-card loopholes…
2007/12/06 - CBC: Gift card exemption riles critics

Tags: retail, date, business, commerce, industry, regulation, buy, consumer, shop, government, lobby, Liberal, pay, store, law, penalty, gift, card, credit, exempt, except, expiration, expire, fee, loophole, loyalty, mall, PR, protect, regulate