Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Thursday, 10.23.2014
Classifieds
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4  5  6  7
 8  9  10  11  12  13  14
 15  16  17  18  19  20  21
 22  23  24  25  26  27  28
 29  30
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local




Members Of



Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Apr 20,2007
House passes bill to protect consumers from gift-card losses
by Bend Weekly News Sources

Bill banning gift card fees or expiration dates clears House with bipartisan support

State Representative Carolyn Tomei (D-Portland) led the Oregon House Wednesday to better protect consumers who purchase or receive gift cards. Approved with broad, bipartisan support, House Bill 2513 will prohibit businesses from issuing gift cards that expire or lose value over time. The bill does allow exceptions for donated cards. 

“We’ve all heard anecdotal frustrations from consumers—and even felt them ourselves, but the facts tell a staggering story,” said Tomei.   “Americans spent over $70 billion on gift cards during 2005.  But because of service fees and expiration dates, consumers lose at least 10 percent of the value of these cards-- a loss that totals more than $7 billion a year.”

The bill is needed, said Tomei, because consumers who receive gift cards but don’t use them immediately, unexpectedly find when they go to use the card that it has expired or that fees imposed on the card have caused its value to dwindle significantly.

Gift card service fees, she said, are unreasonably high. The fees generally range from $1.50 - $2.50 per month.  An estimated 23 percent of retailers issuing gift cards impose such fees and two-thirds fail to disclose services fees when the cards are purchased. And the fees, said Tomei, are unnecessary because retailers are already reaping the financial reward of the purchased gift card.

“When a person buys a gift card, they need to be assured that the recipient will receive full value,” said Tomei, making the case for the bill on the House Floor. “This bill will assure that, if a person buys a $50 gift card from a retailer, that gift card will purchase $50 worth of product.” 

House Billl 2513 now moves to the Senate for consideration.

1771 times read

Related news
2007 Holiday Gift Card Study released by Bend_Weekly_News_Sources posted on Nov 16,2007

City Begins Accepting Credit Cards for Building & Planning Fees by Bend Weekly News Sources posted on Jul 07,2006

Did you remember insurance for those holiday gifts? by Bend_Weekly_News_Sources posted on Dec 21,2007

Regifting Without Guilt: Helpful Tips on How to Be a Successful Regifter by Bend Weekly News Sources posted on Dec 08,2006


Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 4 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County
Fairgrounds

Tower Theatre
Tower Theatre

The High Desert Museum

Advertisements



Deschutes County

Google  
  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
Advertisement
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?