Categorized | Miscellaneous

SB10-155: Bill Requires Fair Gift Card Practices

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FOR IMMEDIATE RELEASE
Wednesday, February 17 2010

CONTACT:
Abigail Vacanti
Jack Wylie

Bill Requires Fair Gift Card Practices

Sen. Tochtrop Works to Protect Coloradans from Deceptive Gift Card Terms

DENVER— Today, the Senate Business, Labor and Technology committee passed Sen. Lois Tochtrop’s (D- Thornton) bill to protect Coloradans from losing money on gift cards. The bill, SB155, will prohibit businesses that issue gift cards from charging hidden fees and will prevent deceptive trade practices.

“When you buy a gift card for $25, it should be worth $25” said Sen. Tochtrop. “This bill protects Colorado consumers from being charged hidden fees and prevents them from becoming victims.”

Sen. Tochtrop has personally been a victim of deceptive gift card practices. She is bringing her bill to the legislature to ensure other Colorado consumers get their money’s worth when they give or receive a gift card. She notes that many businesses in Colorado do not charge hidden fees and use fair gift card terms. SB155 will ensure consumers are protected from those businesses that choose to engage in deceptive business practices.

“This is the logical, fair, and common sense solution” continued Sen. Tochtrop.

According to the Wall Street Journal, unclaimed gifts cards amount to roughly $ 6.8 billion in the United States annually .

The bill will now move to the full Senate for 2nd reading.

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