New Jersey trying to seize unused gift card balances

posted by
January 3, 2011
by Ryan Young  
Posted in Commentary

"New Jersey residents with unused gift cards might want to make that trip to Target or Home Depot soon. The state legislature voted to seize the unused balances of all gift cards and traveler’s checks issued in the state before a certain date. A judge struck down the law, but the state is appealing the ruling. By stealing the gift card balances from their owners, the state could raise up to $80 million." (01/03/11)  

    How could the do it since how would they collect the money on the cards would it just be deducted from what is left on the card by the company (VISA/ MASTE-CARD/ AMEX) that issued the card. How would they know who has money left on the cards since they are not registered in anyones name

Our Sponsors